i-HEDGE™ The leading FTR market system solution in the United States

i-HEDGE™ has been implemented at Midwest ISO, California ISO, and ERCOT. All FTR markets share a common platform, with specific market rules configured within the calculation engines and user interfaces.

This integrated system provides all required functions to run a FTR market efficiently. It features an open and flexible architecture that allows for future enhancements reflecting the continuous evolution of FTR markets.

The i-HEDGE modules support the FTR auction and allocation process end-to-end:

• Market participants secure web user interface-to submit bids for the purchase and sale of FTRs and receive results of the auction clearing
• Market operator manager-to run the calculations that clear each auction and provide the information needed for financial settlement
• Market analyst manager-to conduct FTR/ARR allocation studies (initial, seasonal, and monthly true-ups)
• Secondary market manager-to provide secondary market trading in the form of a web-based bulletin board

Technical features include:

• Standard architecture-J2EE architecture with Oracle database
• Web services and database interface to the market operator system (day-ahead market, settlement, EMS, etc.)
• Security-strict adherence to J2EE standards, with the ability to support LDAP protocol and query user digital certificates, credentials, and hierarchies of groups and roles
• Scalability-tested for very large bid amounts, with option for parallel computing technology
• Calculation engine-integrated as a standalone software component that continuously evolves to model the enhanced features of FTR markets