The XMtrade®/GOS platform provides a comprehensive and proven solution for the registration, management, and trading of Guarantees of Origin. It supports the entire lifecycle of Guarantees of Origin – from issuance, through transfer and cancellation, to cross-border interoperability via the AIB Hub, in compliance with European energy legislation and market standards.

XMtrade®/GOS also includes functionalities for organizing electronic auctions of Guarantees of Origin of electricity, managing market participants, handling financial settlement, and supporting transparent and efficient trading processes. The platform is part of the XMtrade® product line, which has been widely used for organizing energy markets and building market infrastructure systems.

Extension of the system with a new auction format

SFÉRA has implemented a significant technological upgrade of the XMtrade®/GOS system to support a new model of Guarantees of Origin auctions. The new version responds to current market developments and increasing requirements for:

• higher market liquidity
• an expanded pool of participants
• more transparent trading
• more efficient order matching
• automation of auction processes

This modernization creates a strong technological foundation for a more flexible local trading venue for Guarantees of Origin.

Opening of the sell-side to the market

A key change in the new model is the opening of the sell-side to a broader range of market participants. While in the original model auctions mainly involved Guarantees of Origin issued for supported generation sources, the new format also allows participation for:

• energy producers
• energy suppliers
• other holders of Guarantees of Origin

This change significantly increases market accessibility, enables more efficient trading even for smaller entities, and supports further development of the Guarantees of Origin market.

New pay-as-clear auction algorithm

As part of the technological upgrade, a new pay-as-clear matching algorithm has been implemented, which:

• establishes a single marginal price for individual product categories
• evaluates orders based on generation type and remaining lifetime of Guarantees of Origin
• allows both full and partial order execution
• optimizes auction results with the objective of maximizing social welfare

The system also supports simple and block orders, prioritization of trading combinations, dynamic order adjustments during the order submission phase, and transparent evaluation of auction results.

Implementation of financial collateral                                                                             

The new auction format also introduces financial collateral on the buyer side. XMtrade®/GOS provides:

• registration of financial deposits
• automatic verification of available financial limits
• validation of orders against posted collateral
• support for secure and efficient settlement of auctions

This mechanism increases the reliability of financial flows, enhances transparency of the trading process, and creates conditions for more efficient physical settlement of auctions.

 Launch of the new auction model

More information:

• OKTE – New auction format
• OKTE – General information about auctions
• OKTE – 25th Guarantees of Origin auction