Project description
A novel automated trade execution platform streamlines trading on energy exchanges
Much as stocks are traded on stock exchanges, power is traded on energy exchanges. Power generators sell the electricity they generate to power suppliers, who bid for the electricity to sell to consumers. Unlike the stock market, the ‘product’ is sold, bought and used instantly, and this process is still done manually. The EU-funded Alx project is optimising the technology behind its automated trade execution engine that harnesses machine learning to analyse years of market data. It will unlock the potential of renewables by providing fast, inexpensive and reliable market access to small generators without the need for trading knowledge.
Objective
In this project, we are going to develop Automated Trade Execution Engine for intra-day power markets. When developed, it will provide fast, cheap and reliable market access to small renewable generators, independent suppliers and trading companies without the need for a costly intra-day trading team that operates 24/7/365. The solution is self-learning meaning that it can iterate over years and years of market data to induce the best trade execution strategies. It is significantly faster than manual traders - it can react to market changes in milliseconds, and therefore, it significantly outperforms manual trade execution. It is extremely scalable - the same software solution can be used across most European markets without the standard proportional increase in costs. Automatic trade execution is already flourishing in financial markets with 85% of trades being executed automatically in contrast to 0% in power markets and the aim of this project is to unlock the value in this multibillion market opportunity.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences artificial intelligence
- engineering and technology environmental engineering energy and fuels renewable energy
- social sciences economics and business business and management commerce
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
5280 IDRIJA
Slovenia
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.