Nasdaq to Provide SMARTS Market Surveillance Technology to Japan Electric Power eXchange
April 21 2015 - 8:01PM
NEW YORK and TOKYO, April 21, 2015 (GLOBE
NEWSWIRE) -- Japan Electric Power eXchange (JEPX), the primary
exchange for electricity in Japan, has announced that they will
enhance their market oversight capabilities with Nasdaq's
(Nasdaq:NDAQ) leading SMARTS Market Surveillance platform. The
technology will give JEPX the surveillance tools to monitor spot
and forward transactions of electricity for market manipulation, as
well as complex analytical capabilities. The surveillance system
will be operational before the full deregulation of Japan's
electricity industry which is slated to enter into the country's
retail sector in April 2016. Mitsubishi Electric Corporation
(MELCO) will be the system integrator for this project.
"We're pleased to partner with a market leader
such as JEPX, as we look to assist exchanges to become safer and
more transparent for market players across the globe," said Lars
Ottersgård, Executive Vice President, Market Technology. "As
deregulation of the electricity sector increases the role of JEPX
in the setting of electricity prices in Japan, SMARTS Market
Surveillance will enable JEPX to leverage sophisticated
surveillance technology to support the growth of the market and
safely optimize trading activity."
Traditionally the Japanese electricity industry
has been divided into 10 regions each with a monopolistic,
vertically integrated utility responsible for generation,
transmission and distribution networks to customers. The industry
has focused on the security of supply and retail electricity prices
which are among the highest in the world, since utility providers
are allowed to pass costs to consumers and aren't exposed to
competition.
To increase competition and efficiency in the
market the Japanese government embarked on a policy of deregulation
which has accelerated in recent years. JEPX's trading volume has
been increasing significantly due to these deregulation measures
and the exchange will play an increasingly important role in
setting of power prices. In 2016, the distribution to the retail
sector is expected to be fully opened up, and electricity
derivatives products will also be introduced in the market.
SMARTS Market Surveillance platform is able to
identify manipulative practices across all forms of trading, and
Nasdaq has invested in visualizations and detection techniques
focused on protecting electricity and power markets. SMARTS Market
Surveillance will also be rolled out across Europe by the European
Union to monitor all wholesale electricity market activity.
SMARTS surveillance solutions operate in more than
50 trading venues and regulators, and more than 90 market
participants across 65 markets.
About Nasdaq
Nasdaq
(Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange
technology, listing, information and public company services across
six continents. Through its diverse portfolio of solutions, Nasdaq
enables customers to plan, optimize and execute their business
vision with confidence, using proven technologies that provide
transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock
market, its technology powers more than 70 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to more than 3,500 listed companies with a market
value of over $9.1 trillion and more than 10,000 corporate clients.
To learn more, visit http://nasdaq.com/ambition or
http://business.nasdaq.com.
About Japan Electric Power
eXchange
JEPX is a wholesale electric power exchange
founded on November 2003, based on the purports of the report
"Framework of the Desirable Future Electricity Industry System"
presented by the Electricity Industry Committee of the Ministry of
Economy, Trade and Industry (METI). JEPX is responsible for opening
and operating the wholesale electric power exchange that mediates
sport transactions and forward transactions of electricity. To
learn more, visit http://www.jepx.org/english/index.html.
NDAQG
CONTACT: MEDIA CONTACTS
Nasdaq:
Ryan Wells
(646) 581-4286 (M)
Ryan.Wells@nasdaq.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: The NASDAQ OMX Group, Inc. via Globenewswire
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