Trayport Limited, a leading provider of multi-asset-class electronic trading solutions, today announced that two Austrian utilities, Tyrolean Hydropower AG (TIWAG) and LINZ STROM GmbH, have chosen to use GlobalVision Trading GatewaySM for commodities trading. The contracts support Trayport’s commitment to help connect and integrate the energy markets in central and eastern Europe.
TIWAG is a Tyrolean power generation and distribution company and is a key member of the Austrian power grid. TIWAG produces its electricity mostly by hydroelectric power. In addition to running power plants, TIWAG also maintains a pumped storage plant, which is used in electricity demand in peak hours to cover.
LINZ STROM GmbH is an independent energy provider owned by the city of Linz. It is a provider of infrastructure services in Austria and is one of the leading energy and infrastructure providers in the north of Austria.
James Davies, Head of Trader Systems Business at Trayport, said, “The contract with TIWAG and LINZ STROM GmbH are significant ones for Trayport. They show that with further liberalization of the European energy markets, a greater number of utilities in Austria are looking to consolidate markets accessible on Trading Gateway and also integrate connectivity with exchanges across Europe. This allows Trayport to provide a central role in bringing power markets together.”
Alfred Fraidl, Member of the Board of TIWAG said, “By extending our access to European energy traders, I believe that TIWAG has embarked on a truly important project – both in Austria and in Europe." GlobalVision Trading Gateway supports vital functionalities needed by traders including access to full market depth and increased visibility and accessibility. It enables traders to view and trade market data from multiple liquidity pools on a single user interface.