Nord Pool is a large energy market that facilitates electricity trading in Europe. It operates as a power market where electricity producers and consumers can buy and sell electricity. Nord Pool’s role in creating a transparent and efficient market for electricity trading is crucial. It provides trading, clearing, settlement and related services in both day-ahead and intraday markets in 16 European countries, including Denmark, Finland, Iceland, Norway, Norway, Sweden, Estonia, Latvia, Lithuania. In the Nord Pool energy market, more than 400 energy companies from 20 countries are engaged in energy trading transactions.
According to data shared by Nord Pool, day-ahead market trading volumes reached 1,030.28 TWh in 2023. Intraday market trading volumes amounted to 73.55 TWh across Europe in 2023. In 2023, the intraday market grew by 233% year-on-year in Denmark and 248.5% year-on-year in the Netherlands. These two countries were followed by Germany with 114% and Latvia with 101% growth.
In Nord Pool, the intraday market is of great importance and is one of the highest volume intraday markets in Europe. In 2023, total intraday trading amounted to 73.55 TWh. This corresponds to a growth of more than 95% compared to the previous year’s total. Nord Pool market participants have the ability to trade in 16 intraday countries on a single platform. Nord Pool’s intraday markets are open 24/7, 365 days a year. The intraday markets offer 15-minute, 30-minute, hourly and block products, providing the flexibility needed to meet the needs of different market areas. With the increasing amount of renewable intermittent generation, it has become increasingly difficult for market participants to stabilize after the close of the day-ahead market. Therefore, in Nord Pool, as in many energy markets, trading volumes in the intraday market are increasing. In addition, the intraday market allows market participants to take into account changes in anomalies such as consumption and outages.
Every day, more than 300 buyers and sellers place more than 2,000 orders. To trade on Nord Pool’s day-ahead and intraday markets, you need to go through a simple application process. To trade on this important European energy market, you must be a member of Nord Pool and create a trading portfolio for a specific energy market.
All companies that have completed their membership to Nord Pool can use the API to trade the intraday market. You can place bids including 15, 30 and 60 minute trades, blocks and iceberg orders. Through APIs, you can trade manually and algorithmically.
Nord Pool’s Independent Sofware Vendors (ISV) are of great importance in the integration and use of APIs. ISVs approved by Nord Pool are subjected to many rigorous tests. In these tests, many parameters such as algorithmic trading, bid transmission speed, data security and transaction times can be meticulously examined down to the finest detail. Companies that successfully pass these rigorous tests are declared as ISVs by Nord Pool. ISV companies develop software for companies that want to trade energy in Nord Pool’s systems through APIs. With the energy trading solutions offered by ISV companies, energy trading algorithms can be used, completely customized algorithms can be designed, and energy buying/selling operations can be managed with advanced web interfaces and detailed graphics. The processes carried out in spot markets can be optimized end-to-end and made more efficient/profitable with digital solutions provided by ISVs.
Software such as V-Market has become an ISV after passing rigorous software tests. With V-Market, you can trade algotrades and achieve operational excellence for both intraday and pre-day markets. Click here to learn more about V-Market’s multi-market management, algotrading and other opportunities.