On 12.06.2017 IBEX published a draft of the Market rules for Centralized market for bilateral contracts (CMBC), which will substitute the current rules of CMBC. According to IBEX team the changes and amendments in the new rules are made in order to improve the security of supply and payments based on transactions for sale/purchase of electricity on the CMBC as well as in order to achieve standard conditions for participation and transactions.
The main changes in the rules concern the following:
- IBEX will become a party to each transaction on the CMBC – article 5 of the rules “The Operator is a party to all transactions concluded through Auctions screen and Continuous trading screen”
- The mechanism for calculation of the required collateral for participation (the financial limits) is changed. IBEX implements risk management system.
- The Operator is integrating an application that allows each Market participant to have instant access to its available, blocked and free financial limits.
- All terms and conditions with regard to the submission of collateral, payments and penalties are now standardized.
- A new Auction mechanism is introduced – Auctions organized through bidding rounds.
- Market participant, who violated the rules or the agreements can be suspend from IBEX
- Screen “Hourly products” removed from the rules
