MGAS OLD
GME organises and manages the natural gas market (MGAS). In the MGAS, parties authorised to carry out transactions at the “Punto Virtuale di Scambio” (PSV - Virtual Trading Point) may make spot purchases and sales of natural gas quantities.
In the MGAS, GME plays the role of central counterparty of the transactions concluded by Market Participants.
The MGAS consists of:
-Day-Ahead Gas Market (MGP-GAS). The MGP-GAS takes place in two successive stages; in the first stage, transactions take place under the continuous-trading mechanism; in the second stage, they take place under the auction-trading mechanism. In the MGP-GAS, gas demand bids and supply offers, in respect of the calendar gas-day following the one on which the auction-trading session ends, are selected;
-Intra-Day Gas Market (MI-GAS). The MI-GAS takes place in a single session under the continuous- trading mechanism. In the MI-GAS, gas demand bids and supply offers, in respect of the gas-day on which the session ends, are selected.