With an aim to ease participation and provide customer delight for trading on the exchange, Power Exchange India Ltd (PXIL) on Monday has unveiled its new technology-based trading platform called ‘PRATYAY’.
As per PXIL, this new service provides single platform for all segments and offers hassle-free migration from thick client-based solution to a complete web-based solution along with other benefits.
Equipped with a user-friendly approach, this upgraded web-based platform includes features like auto update at user end, web browser operations, ease of report export and printing and smart UI.
Besides, it will also help in eliminating participant-driven update on their PC such that no action is required on client’s end and they can start experiencing revised features and functionalities as and when an upgrade is available.
The platform also contains modules for risk management and clearing & settlement. It enables stage-wise risk management and margining, which allows payment security and trade margins to be applicable based on status of order, transaction, clearance and settlement.
This allows more efficient capital deployment by participants for their trades and reduces the cost of working capital for participants while at the same time retaining the underlying security of financial settlement while transacting through the power exchange.
The contract creation modules, matching algorithms and the robust and yet flexible database structure helps to reduce time to introduce any new contract or functionality as may be required for development of the market.
Speaking on the launch, Prabhajit Kumar Sarkar, Managing Director and Chief Executive Officer of Power Exchange India Ltd, said “PRATYAY is the tangible outcome of an intense consultative process encompassing all stakeholders in the sector that has resulted in a platform which permeates all forms of transactions in the power markets.”
Sarkar further added that “the power markets in our country are fast evolving now, with transactions expected to span durations of a few minutes to a few months and years. PXIL is ready to support and work with all the participants in the power markets to help them best fulfil their electricity requirements.”
Meanwhile, PXIL is promoted by NSE & NCDEX and it’s other shareholders include Power Finance Corporation (PFC) from the Central sector, Gujarat UVNL, Madhya Pradesh PMCL & West Bengal SEDCL from the state sector, and TPTCL, GMRETL and JSWPTC from private sector.