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The Polish Power Exchange Chooses OMX’s Trading And Clearing System CONDICO

Date 30/03/2005

OMX, a world leading provider of marketplace solutions and services for the financial and energy markets, and Towarowa Gielda Energii, the Polish Power Exchange, have signed an agreement regarding the trading and clearing system CONDICO. The agreement includes license, project and five-year support of the system, which will be used for the electricity spot and electricity derivatives market. The agreement also includes OMX setting up a green certificate register to enable trading of such certificates in the future.

“The Polish energy market is still in a quite early stage of liberalisation, but already requires sophisticated technology to encourage the participants to explore all possibilities of both spot and financial markets for energy and natural gas. In addition, recent changes in energy law have created new possibilities for our exchange – securing the register and trade of green certificates for market players. By choosing OMX to provide us with the technology solution, we can be sure that we’ll be able to meet new challenges and fully explore the opportunities” said Grzegorz Ornichimowski, CEO, Towarowa Gielda Energii.

“We are very pleased that Towarowa Gielda Energii has chosen OMX as their technology partner. We believe that our proven and flexible solutions combined with our experience in supporting marketplaces with growth potential makes us a valuable partner,” said Klas Ståhl, President OMX Technology. “This agreement strengthens our position as a leading provider to the global energy industry and further reinforces our offerings for emerging markets.”