Attention to Market participants: regarding the implementation of new types of orders for DAM and IDM, as well as the ability to modify IDM orders

JSC «Market Operator», taking into account repeated requests from MPs and having analyzed the experience of European electricity markets, proposes to all MPs the implementation of new types of orders for DAM and IDM.

Loop Blocks or Spread Block Orders may be submitted for day-ahead market auctions. A Loop Blocks is a pair of interrelated simple block orders with opposite transaction directions (buy and sell) that must be either fully executed or fully rejected together.

The market operator expects that the implementation of this type of order will be of interest to operators of energy storage facilities, storage stations, traders, aggregators, and entities with demand management and internal balancing capabilities.

In intraday market trading, «Iceberg» orders — an hourly order with a total declared volume of electricity purchase/sale, divided into smaller parts («tips»), which are displayed in the order book for other MPs in sequence. After the «tip» displayed in the order book is accepted, the next «tip» (with a new order submission timestamp) will automatically be displayed, and this process will repeat until the entire declared volume is accepted or the order expires.

«Iceberg» orders play an important role in maintaining market liquidity by dividing large transactions into smaller parts. This discrete order execution method helps avoid significant price fluctuations in the market, minimize market impact, and maintain its overall stability. At the same time, the fragmented nature of such an order creates a risk of partial execution.

Expanding the range of product types on the DAM and IDM will allow MPs to optimize their trading strategies in the spot segments of the electricity market.

In accordance with the requirements of Section 3.1.8 of the DAM/IDM Rules, new types of orders may be implemented after the market operator consults with MPs, based on the results of which amendments will be initiated to the DAM/IDM Rules, approved by NEURC Resolution No. 308 dated March 14, 2018.

JSC «Market Operator» has developed a draft amendment to the DAM/IDM Rules, which is intended to enable the implementation of new types of orders for DAM and IDM auctions, as well as the ability to modify IDM orders. The draft amendment in the form of a comparison table is available at the link. Comments and suggestions on the draft amendments will be accepted until May 13, 2026 (inclusive).