A time-segmented trading system that supports continuous market opening in the medium to long term.

Abstract

This invention discloses a time-segmented trading system supporting continuous market operation in the medium to long term. It includes: a quotation module 1, a quotation module 2, a centralized bidding trading module, a rolling matching trading module, a transaction publishing module, a constraint update module, a data verification module, and a Redis caching module. The system acquires quotation data for each time period submitted by market participants, performs data verification, and conducts centralized bidding and rolling matching trading for quotation data that meets the verification criteria. During centralized bidding and rolling matching trading, the system updates the holdings and available electricity for each time period of market participants in real time based on the submission and transaction status, and uses this information as a constraint for the next submission. This invention enables the integration of wholesale and spot trading, highlighting the value of electricity at different times, breaking down barriers to price signal transmission between wholesale and retail markets, and guiding users to use electricity at different times according to market prices.

Description

Technical Field

[0001] This invention relates to a time-segmented trading system that supports continuous trading in the medium to long term, belonging to the technical field of power trading systems. Background Technology

[0002] With the deepening reform of the electricity market, the medium- and long-term trading market is gradually taking shape. The existing medium- and long-term trading adopts a fixed price + curve trading method. The problem of the inability to quantify the value of medium- and long-term curves at different times is prominent. In actual trading, the price is the same in each time period of medium- and long-term trading. Although there are time-of-use price signals in spot trading, they only account for a certain proportion. The wholesale market as a whole cannot form a clear time-of-use price, nor can they be transmitted to retail users. Off-peak users have experienced increased electricity costs in the spot market, while peak users have experienced a significant decrease in electricity costs in the spot market. The mismatch in electricity allocation by time period is not conducive to the healthy development of the electricity trading market. Summary of the Invention

[0003] To address the problems existing in the prior art, this invention proposes a time-segmented trading system that supports continuous market opening in the medium and long term. This system enables time-segmented, multi-directional, and integrated power trading on the power trading platform. It conducts centralized bidding and rolling matching of bid data submitted in each time period, improving trading flexibility, realizing time-segmented quantification of medium and long-term curve value, and constructing a more transparent power market price signal, which is conducive to the stable development of the power trading market.

[0004] To solve the above-mentioned technical problems, the present invention adopts the following technical means:

[0005] This invention proposes a time-segmented trading system that supports continuous market opening in the medium to long term, comprising:

[0006] The quotation module 1 is used to obtain quotation data for each time period from various market participants in the power trading market before the preset trading deadline.

[0007] The centralized bidding transaction module is used to sort and compare prices based on the bidding data of each market participant in the quotation module 1 after the transaction deadline, obtain a unified clearing price, and perform centralized bidding clearing calculation on all market participants based on the unified clearing price to obtain the centralized bidding result.

[0008] The quotation module 2 is used to obtain quotation data of each market participant for each time period during the preset transaction declaration period after the centralized bidding transaction.

[0009] The rolling matching module is used to automatically match the bid data of each market participant in real time according to the order of their submission time in the quotation module 2 and the price priority principle, so as to obtain the rolling matching result.

[0010] The transaction publishing module is used to publish the results of centralized bidding and rolling matching.

[0011] The constraint update module is used to update market constraint information in real time during the trading process of the centralized bidding trading module and the rolling matching trading module.

[0012] The data verification module is used to verify the quotation data obtained by quotation module one and quotation module two based on market constraint information and transaction configuration information. The quotation data that passes the verification is then entered into the centralized bidding transaction module and the rolling matching transaction module, respectively.

[0013] Furthermore, both the quotation module 1 and quotation module 2 use the same table structure: a listing table and a queue list. The listing table is used for order book inquiries, market inquiries, and order book inquiries; the queue list is used for inputting data into the centralized bidding trading module and the rolling matching trading module.

[0014] Furthermore, the quotation data includes the declared electricity volume, declared electricity price, transaction direction, and quotation status of each market participant in each time period; the transaction direction includes buying and selling, and each market participant includes multiple trading units. When the market participant's transaction direction is buying, the corresponding trading unit under that market participant is the buyer, and when the market participant's transaction direction is selling, the corresponding trading unit under that market participant is the seller; the quotation status includes new, successful submission, failed submission, successful application, partial transaction, full transaction, full cancellation, and partial cancellation. During centralized bidding and rolling matching transactions, the quotation status is updated in real time.

[0015] Furthermore, the specific operation of the centralized bidding trading module is as follows:

[0016] After the transaction deadline, obtain the quotation data of each market participant from Quotation Module 1;

[0017] Arrange the buyers' bid data in descending order of the declared electricity price to obtain the buyer bid sequence;

[0018] Arrange the sellers' bid data in ascending order of the declared electricity price to obtain the sellers' bid sequence;

[0019] When the buyer's bid sequence and the seller's bid sequence form a price-volume intersection, the bid price at the intersection is used as the unified clearing price. Buyer bid data A with a bid price greater than the unified clearing price and seller bid data B with a bid price less than the unified clearing price are obtained. The total bid volume of A and B is compared, and the bid with the smaller volume is selected to complete the transaction at the unified clearing price.

[0020] When the buyer's bid sequence and the seller's bid sequence do not form a price-volume intersection, if the buyer's lowest bid price is higher than the seller's highest bid price, the total bid volume of the buyer and the total bid volume of the seller are compared, and the one with the smaller total bid volume is used to complete the transaction at the uniform clearing price. The uniform clearing price is the average of the bid prices of the last pair of buyers and sellers that are matched.

[0021] When the buyer's bid sequence and the seller's bid sequence do not form a price-volume intersection, if the buyer's highest bid price is lower than the seller's lowest bid price, the transaction will not be completed.

[0022] Furthermore, the specific operation of the rolling matching transaction module is as follows:

[0023] Based on the submission time of each market participant in the quotation module 2, the quotation data of each market participant is stored in the matching queue.

[0024] When a new buyer's bid data is added to the matching queue, the seller's bid data with bid prices less than or equal to the new buyer's bid price are arranged in ascending order and matched with the new buyer's bid data in turn. The transaction price is the bid price of the party that submitted the bid earlier, until all the bid volume of the new buyer or the bid volume of the seller within the corresponding price range is matched. If the new buyer still has unmatched volume, the unmatched buyer's bid data will continue to be matched in the matching queue.

[0025] When a new seller's bid is added to the matching queue, the buyer's bids in the matching queue with bid prices greater than or equal to the new seller's bid price are arranged in descending order and matched with the new seller's bids in turn. The transaction price is the bid price of the party that submitted the bid earlier, until all the bids for the new seller's bid volume or the bid volume of the buyer within the corresponding price range are matched. If the new seller still has unmatched volume, the unmatched seller's bid data will continue to be matched in the matching queue.

[0026] Furthermore, the centralized bidding results include an overall clearing overview and a clearing overview for different time periods. The overall clearing overview includes the total transaction volume, the average transaction price, the total volume bid by buyers, and the total volume bid by sellers. The clearing overview for different time periods includes the transaction curves for each time period, the volume bid by buyers for each time period, the volume bid by sellers for each time period, the transaction volume for each time period, and the unified clearing price.

[0027] The rolling matching results include the transaction price and transaction volume of each successful transaction during the rolling matching process, as well as the total transaction volume and average transaction price for each time period of the rolling matching.

[0028] Furthermore, in the constraint update module, market constraints include electricity constraints and electricity price constraints. Electricity constraints are divided into generation-side electricity constraints and user-side electricity constraints according to the type of market participant, and into buyable electricity constraints and sellable electricity constraints according to the direction of the transaction.

[0029] Furthermore, the system also includes a Redis caching module for caching position size, market constraint information, transaction configuration information, and time-segmented information.

[0030] Furthermore, in the time-segmented trading system, multiple threads conduct transactions simultaneously, and Redis locks are used to control the submission of each quote data. When new quote data is received, it is checked whether a Redis lock corresponding to the market entity trading unit of the quote data exists in the Redis cache module. If not, a Redis lock with the trading unit ID as the key is added to the Redis cache module. If it exists, the newly received quote data is not submitted. When a quote data is successfully submitted, its corresponding Redis lock is deleted.

[0031] Furthermore, in the data verification module, the quotation data is verified for quantity and price accuracy, price upper and lower limits, electricity upper and lower limits, and the number of ongoing applications; during the trading process in the centralized bidding trading module and the rolling matching trading module, accuracy verification, time verification, direction verification, and quota verification are performed.

[0032] The following advantages can be obtained by adopting the above technical means:

[0033] This invention proposes a time-segmented trading system supporting continuous market operation in the medium to long term. It acquires market participant price quotes from the power trading platform in different time periods, verifies the quotes, and then trades the quotes sequentially through centralized bidding and rolling matching. The system updates open interest and market constraints in real time and displays the trading results, supporting continuous market operation in the medium to long term. By implementing medium- to long-term time-segmented trading, it achieves integration with spot trading in the wholesale market, highlighting the value of electricity at different times, breaking down barriers to price signal transmission between the wholesale and retail markets, and guiding users to consume electricity at market prices according to their time of day.

[0034] This invention improves trading flexibility, enables time-sharing quantification of medium- and long-term curve value, facilitates price transmission between wholesale and retail markets, releases reform dividends, resolves the contradiction between medium- and long-term contract electricity volume and curve adjustment, provides more flexible risk management tools for different market participants, and builds a more transparent electricity market price signal, which is conducive to the stable development of the electricity trading market. Attached Figure Description

[0035] Figure 1 This is a schematic diagram of the structure of a time-segmented trading system that supports continuous market opening in the medium to long term, according to the present invention.

[0036] Figure 2 This is a technical architecture diagram of the time-segmented trading system in an embodiment of the present invention;

[0037] Figure 3 This is a screenshot of the rolling matching transaction order book page in an embodiment of the present invention;

[0038] Figure 4 This is a schematic diagram illustrating the operation verification and status change of the centralized bidding transaction module in an embodiment of the present invention;

[0039] Figure 5 This is a schematic diagram illustrating the operation verification and status change of the rolling matching transaction module in an embodiment of the present invention;

[0040] Figure 6 This is a schematic diagram of the centralized bidding results in an embodiment of the present invention;

[0041] Figure 7 This is a schematic diagram of the rolling matching result in this embodiment. Detailed Implementation

[0042] The technical solution of the present invention will be further described below with reference to the accompanying drawings:

[0043] This invention proposes a time-segmented trading system that supports continuous market opening in the medium to long term, such as... Figure 1 , 2 As shown, it mainly includes: Quotation Module 1, Quotation Module 2, Centralized Auction Transaction Module, Rolling Matching Transaction Module, Transaction Publishing Module, Constraint Update Module, Data Verification Module, and Redis Caching Module.

[0044] Both the quotation module 1 and the quotation module 2 are used to obtain quotation data from each market participant in the power trading market for each time period. The difference is that the quotation module 1 obtains quotation data for centralized bidding before the preset trading deadline, while the quotation module 2 obtains quotation data for rolling matching after the centralized bidding transaction and within the preset trading declaration period. Generally, data that is not traded in the centralized bidding will be submitted again in the rolling matching stage.

[0045] Before centralized bidding, market participants in the electricity market submit their bids on the electricity trading platform according to two price and quantity segments. The bid data is received and integrated by the bidding module. The bid volume in each segment should be equal and the total volume should meet the trading volume constraints. The bid price is the price of electricity and meets the trading price constraints.

[0046] During rolling matching, market participants submit the electricity volume and price they intend to buy or sell for each time period. The top ten highest bid prices from buyers and the top ten lowest bid prices from sellers, along with the corresponding total submitted electricity volumes, are immediately and anonymously published on the order book page so that market participants can understand the current trading situation. Figure 3 As shown. Each declared electricity volume must meet the trading volume constraints, and the declared price must be the electricity price and meet the trading price constraints. Market participants can cancel their declared but unexecuted transaction data during trading hours, but executed transaction data cannot be canceled.

[0047] In this embodiment of the invention, the medium- and long-term time-segmented trading cycle is divided into multi-month, monthly, ten-day, and daily rolling cycles.

[0048] Monthly transactions are conducted in the middle of each month and last for two days. The transaction target is the total electricity volume for each time period of the following month. By default, the contracted electricity volume for each time period of the monthly transaction is evenly distributed to the corresponding time period of each day according to the number of calendar days in the month.

[0049] Ten-day transactions are organized at least 5 days in advance for the first, middle, and last ten days of each month, and last for 1 day. The transaction targets are the total electricity volume for each period of the first, middle, and last ten days of the month. The contract electricity volume for each period of the ten-day transaction is by default divided into the corresponding period of each day according to the number of calendar days in the ten-day period.

[0050] Daily rolling transactions are organized on a daily (T-day) basis. The transaction target is the electricity volume for each time period from T+2 to T+4. The electricity volume for each time period of the day is traded separately (i.e., 24×3 sub-transactions are carried out). The electricity volume of a market participant for a certain time period on a certain day is the sum of the electricity volume of multi-month transaction contracts, monthly transaction contracts, ten-day transaction contracts, and the results of daily rolling transactions for the corresponding time period.

[0051] The quotation data includes the declared electricity volume, declared electricity price, transaction direction, and quotation status of each market participant in each time period. The transaction direction includes buying and selling. Each market participant includes multiple trading units. When the market participant's transaction direction is buying, the corresponding trading unit under that market participant is the buyer. When the market participant's transaction direction is selling, the corresponding trading unit under that market participant is the seller. Both buyers and sellers need to be considered during the transaction process.

[0052] Quote status is crucial. As quotes enter the matching queue, are executed, or canceled, the status is updated in real time, used for limit calculations, market data queries, and order book inquiries. Quote statuses primarily include: Added, Submission Successful, Submission Failed, Successful Submission, Partially Executed, Fully Executed, Fully Cancelled, and Partially Cancelled.

[0053] In this invention, centralized bidding is a pre-market trading method for rolling matching. Unexecuted orders in centralized bidding can be transferred to the rolling matching stage for continued trading. Therefore, quotation module one and quotation module two adopt the same table structure, which is divided into a listing table and a queue list. The listing table is used for order book query, order book query, and order query; the queue list is used for input into the centralized bidding trading module and the rolling matching trading module.

[0054] The data verification module is primarily used to verify the quotation data obtained from Quotation Module 1 and Quotation Module 2 based on market constraint information and transaction configuration information. Quotation data that passes verification is then entered into the centralized bidding transaction module and the rolling matching transaction module, respectively. The quotation data, from being entered into the front-end page to entering the matching queue, requires both front-end and back-end verification. Front-end verification can be bypassed by modifying the application request or directly calling the application interface; therefore, all front-end verification content must be verified again by the back-end. Front-end verification includes: quantity and price accuracy verification, price upper and lower limits verification, electricity upper and lower limits verification, and existing application quantity verification. Back-end verification includes: quantity and price accuracy verification, price upper and lower limits verification, electricity upper and lower limits verification, existing application quantity verification, data format verification, login information verification, process time verification, market access verification, existing application verification, transaction direction verification, single-period limit verification, and full-period limit verification. The purpose of front-end and back-end verification is to achieve multi-layered data security protection and build a healthy, sound, and stable trading mechanism.

[0055] The centralized bidding module is mainly used to sort and compare prices based on the bidding data of each market participant in the quotation module after the trading deadline, obtain a unified clearing price, and perform centralized bidding clearing calculations on all market participants based on the unified clearing price to obtain the centralized bidding result.

[0056] In this application, the specific operation of the centralized bidding trading module is as follows:

[0057] 1. After the transaction deadline, obtain the quotation data of each market participant in the quotation module 1.

[0058] 2. Arrange the buyer's quotation data in descending order of the declared electricity price to obtain the buyer's quotation sequence; arrange the seller's quotation data in ascending order of the declared electricity price to obtain the seller's quotation sequence.

[0059] 3. Based on the buyer's and seller's bid sequences, conduct centralized competitive bidding transactions according to different situations:

[0060] Scenario 1: When the buyer's bid sequence and the seller's bid sequence form a price-volume intersection (i.e., the buyer's bid price curve intersects with the seller's bid price curve), the bid price at the intersection is used as the unified clearing price. Buyer bid data A (bids higher than the unified clearing price) and seller bid data B (bids lower than the unified clearing price) are obtained. The total bid volume of A and B is compared, and the bid with the smaller volume is executed at the unified clearing price. Assuming the total bid volume of A is greater than the total bid volume of B, then sellers with bids lower than the unified clearing price can all be executed, and buyers with bids higher than the unified clearing price are selected for execution in descending order.

[0061] Scenario 2: When the buyer's and seller's bid sequences do not form a price-volume crossover point, if the buyer's lowest bid price is higher than the seller's highest bid price, the total bid volume of the buyer and seller is compared, and the bid with the smaller total bid volume is used to complete the transaction at the uniform clearing price. The uniform clearing price is the average of the bid prices of the last pair of matched buyers and sellers. Assuming the buyer's total bid volume is less than the seller's total bid volume, all of the buyer's bids can be executed. Based on the buyer's total bid volume, the seller's bid data is extracted from the seller's bid sequence in ascending order. Once the buyer's total bid volume is satisfied, the bid price from the last seller's bid data is obtained, and the average of this seller's bid price and the buyer's lowest bid price is taken as the final uniform clearing price. Conversely, assuming the buyer's total bid volume is greater than the seller's total bid volume, the average of the bid price from the last buyer's bid data and the seller's highest bid price is taken as the uniform clearing price. Assuming the buyer's total bid volume is equal to the seller's total bid volume, the average of the buyer's lowest bid price and the seller's highest bid price is taken as the uniform clearing price.

[0062] Scenario 3: When the buyer's bid sequence and the seller's bid sequence do not form a price-volume intersection, if the buyer's highest bid price is lower than the seller's lowest bid price, the transaction will not be completed.

[0063] 4. Based on the above three scenarios, all tradable bid data are executed to obtain the centralized bidding result.

[0064] In the centralized bidding process, a fallback mechanism needs to be addressed. In this invention, the fallback logic is as follows: 1) All traded electricity volumes do not exceed the declared electricity volumes; 2) All traded electricity volumes are not less than the minimum precision. All pending bid data is iterated according to these two conditions, continuously looping until all tail differences are processed or the tail differences no longer change after two iterations. Then, the loop is exited, and the fallback negative tail difference with the largest electricity volume and the fallback positive tail difference with the smallest electricity volume are identified.

[0065] like Figure 4As shown, the operations in centralized bidding transactions include saving, submitting, and canceling. Bidding data can be saved first and then submitted. The verification processes for saving and submitting are the same, including accuracy verification, time verification, direction verification, and limit verification. When a centralized bidding transaction is canceled, the current time is verified to determine whether the current submission process allows cancellation. Clearing calculations are then performed after verification.

[0066] The rolling matching module is mainly used to automatically match the bid data of each market participant in real time according to the order of their submission time in the quotation module 2 and the price priority principle after the rolling matching trading opens, so as to obtain the rolling matching result.

[0067] In this application, the specific operation of the rolling matching transaction module is as follows:

[0068] 1. Based on the submission time of each market entity in the quotation module 2, store the quotation data of each market entity into the matching queue.

[0069] 2. When new quote data is added to the matching queue, obtain the transaction direction of the quote data, determine whether it is a buyer or a seller, and then select the specific clearing principle based on the transaction direction:

[0070] When a new buyer's bid is added to the matching queue, seller bids with prices less than or equal to the new buyer's bid are arranged in ascending order and matched sequentially with the new buyer's bid. The transaction price is the bid price submitted earlier. Since the buyer's bid is new, theoretically, all sellers in the matching queue submitted their bids earlier than buyers, so the seller's bid price is used as the transaction price. Automatic matching continues until all the new buyer's bid volume or the corresponding price range of seller bid volumes is matched. If the new buyer still has unmatched volume, the unmatched buyer's bid continues to be matched in the matching queue, waiting for the next available seller's bid.

[0071] When a new seller's bid is added to the matching queue, buyer bids with prices greater than or equal to the new seller's bid are arranged in descending order and matched sequentially with the new seller's bid. The transaction price is the bid price submitted earlier. Theoretically, all buyer bids in the matching queue are submitted earlier than seller bids, so the buyer's bid price is used as the transaction price. Automatic matching continues until all new seller bids or buyer bids within the corresponding price range are matched. If there are still unmatched volumes from the new seller, the unmatched seller bids continue to be matched in the matching queue, waiting for the next available buyer bid.

[0072] During the rolling matching process, for each completed transaction, the matching result is simultaneously updated in both the result data and the position data, and the transaction status in the listing table is modified. To ensure data consistency between the result table and the position cache, transaction control is used to guarantee that the write to the result table, the update of the position data, and the modification of the listing record either all succeed or all fail.

[0073] like Figure 5 As shown, the rolling matching transaction involves submitting and canceling orders. Submissions undergo precision verification, time verification, direction verification, and limit verification. After verification, rolling matching proceeds, and the price status changes in real time during the matching process.

[0074] Both centralized bidding and rolling matching processes can conduct high-concurrency, multi-threaded transactions, meaning that multiple transactions can be carried out simultaneously. This application can use Redis locks to control transactions and prevent market participants from submitting duplicate applications.

[0075] The transaction publishing module is used to publish centralized bidding results and rolling matching results, such as... Figure 6 , 7 As shown.

[0076] After the deadline for submitting applications, the power trading center conducts unified clearing through centralized bidding calculations on the trading platform, updates the transaction results to the cache, and simultaneously publishes the centralized bidding results. The centralized bidding results include an overall clearing overview and time-period clearing overviews. The overall clearing overview includes total traded volume, total average transaction price, total buyer-submitted volume, and total seller-submitted volume. The time-period clearing overview includes the transaction curves for each time period, buyer-submitted volume for each time period, seller-submitted volume for each time period, traded volume for each time period, unified clearing price, and total traded volume for each time period. Market participants can log in to the trading platform to view their own transaction details. Buyers and sellers complete online contracts using XXX as the central counterparty, which serve as the basis for settlement.

[0077] The power trading center publishes the transaction price and volume of rolling matched transactions in real time through the trading platform. After the transaction is completed, it publishes the total transaction volume and average transaction price for that batch of transactions. Market participants can log in to the trading platform to view their own transaction status. Buyers and sellers complete online contracts using XX as the central counterparty, which serves as the basis for settlement. The rolling matched results include the transaction price and volume of each successful transaction during the rolling matched trading process, as well as the total transaction volume and average transaction price for each time period of the rolling matched transactions.

[0078] The constraint update module is mainly used to update market constraint information in real time during the trading process of the centralized bidding trading module and the rolling matching trading module;

[0079] In the constraint update module, market constraints include electricity volume constraints and electricity price constraints. Electricity volume constraints are divided into generation-side electricity volume constraints and user-side electricity volume constraints according to the type of market participant, and into buyable electricity volume constraints and sellable electricity volume constraints according to the direction of the transaction. Electricity price constraints are the range of values ​​for the declared electricity price, which are usually manually set empirical values.

[0080] Let D be the number of days in the target of the transaction, and M be the number of calendar days in the month in which the transaction takes place. For a given transaction, it is assumed that n transactions are simultaneously initiated and not yet completed during the transaction process, denoted as trade 1 to n.

[0081] The updated calculation of the power generation constraint is as follows:

[0082] The formula for calculating the upper limit of the purchase quantity on the power generation side during time period t is as follows:

[0083]

[0084]

[0085]

[0086] in, This indicates the short-buying restrictions on the generation side during time period t in the electricity market. and These represent the existing sell contracts (corresponding to the electricity sold by the power generation side) and buy contracts (corresponding to the electricity purchased by the power generation side) for a certain trading unit on day d at time t, respectively. and D is derived from the open interest cache data of centralized bidding, rolling matching, and external contracts. trade This indicates the number of days a transaction involves multiple transactions that are simultaneously in progress and have not yet concluded. For a certain transaction, the electricity volume that was purchased but not executed during time t on day d (electricity in transit) is taken from the unexecuted electricity volume in the tr_listing table with a status of 0 (not executed) and 21 (partially executed); This indicates the buy-in hedging limit on the power generation side during time period t, and x1 represents the hedging constraint ratio on the power generation side. This indicates the maximum amount that can be purchased during time period t on the power generation side.

[0087] The formula for calculating the upper limit of the sellable quantity on the power generation side during time period t is as follows:

[0088]

[0089]

[0090] in, This indicates the upper limit of the amount that can be sold on the power generation side during time period t. ρ represents the effective capacity of the generating units included in a certain trading unit on the generation side on day d. gen_use_rate ρ represents the power consumption rate of power generation enterprises on the power generation side. net_loss This indicates the network loss rate.

[0091] The formula for calculating the upper limit of the amount that can be sold in all time periods on the power generation side is as follows:

[0092]

[0093] in, To set the total sellable electricity volume for a trading unit M month according to the supply-demand ratio, trade.t represents the time period t corresponding to a trading instrument with multiple transactions simultaneously initiated and not yet concluded. This indicates the electricity volume that the power generation trading unit has declared but not yet traded during the trade.t period. trade represents all currently ongoing and unfinished transactions.

[0094] Daily rolling supply of Q can be sold 总可卖上限 constraint.

[0095] The update calculation for user-side power constraints is as follows:

[0096] The formula for calculating the upper limit of the sellable quantity for electricity consumption during time period t is as follows:

[0097]

[0098]

[0099]

[0100] in, This indicates the short-selling restrictions during time period t on the electricity consumption side. and These represent the existing sell contracts and buy contracts of a certain trading unit on the electricity consumption side during the t-hour period of day d, respectively, taken from the open position cache data of centralized bidding, rolling matching, and external contracts. This represents the electricity volume sold but not executed (electricity in transit) during time period t on day d. It is taken from the tr_listing table where the status is 0 (not executed) or 21 (partially executed). x2 represents the selling hedging limit on the electricity consumption side during time period t, and x2 represents the hedging constraint ratio on the electricity consumption side. This indicates the upper limit of the amount of electricity that can be sold during time period t on the electricity consumption side.

[0101] The formula for calculating the maximum amount of electricity that can be purchased during all time periods on the electricity consumption side is as follows:

[0102]

[0103] Among them, Q总可买上限 This indicates the maximum amount of electricity that can be purchased during all time periods on the electricity consumption side. The total purchasable electricity volume for a certain trading unit on the electricity consumption side in month M.

[0104] To improve the concurrent throughput efficiency during the trading process, this invention extensively uses caching technology for frequently retrieved data, such as trading configuration information, trading process information, market constraint information, final value of margin limit, access unit information, volume and price accuracy information, time period information, order book information, and open position cache information. This data is cached in the Redis caching module, and by setting automatic cache invalidation and vacancy update, database connections and queries are reduced, database pressure is reduced, and query speed is improved.

[0105] Open interest is a time-based decomposition of the trading contract volume of market participants. It is a statistical representation of contract volume independent of the trading sequence dimension, used for limit calculation and daily consolidation of contract volume. Being independent of the trading sequence dimension also allows for real-time updates and sharing of limits across multiple transactions. To improve computational performance and query speed, and reduce frequent database reads, open interest data is mapped to a Redis cache. The cached open interest data is stored in HASHMAP format to ensure data immutability and improve read / write efficiency.

[0106] In the time-segmented trading system, multiple threads conduct transactions simultaneously, and Redis locks are used to control the submission of each quote data. When new quote data is received, it is checked whether a Redis lock corresponding to the market entity trading unit of the quote data exists in the Redis cache module. If not, a Redis lock with the trading unit ID as the key is added to the Redis cache module. If it exists, "Submitting" is returned, and the newly received quote data is not submitted, thus avoiding duplicate submissions. When a quote data submission is successful, its corresponding Redis lock is deleted. At the same time, to prevent the Redis lock from remaining after successful submission due to service delays, restarts, or other reasons, an automatic expiration time of 3 minutes is set, after which it automatically expires.

[0107] The following example, using a single monthly transaction of an organization, illustrates the transaction process and application scenarios of the system of this invention:

[0108] Scenario Description: Monthly trading is organized for transactions within a specific calendar month. The trading is divided into 24 time slots, representing 24 hours in a day; therefore, monthly trading is divided into 30 * 24 time slots. First, centralized auction trading is organized, followed by rolling matching trading.

[0109] During the centralized bidding phase, market participants submit their bids: For each of the 24 time periods, they submit the trading direction (buy or sell) for the month, the daily trading volume (declared volume) for each time period, and the trading price (declared price) for each time period of the month. The trading platform calculates the total volume declared by the market participant for the month as 30 times the trading volume. The trading platform verifies the market participant's bid data, checking the accuracy of the submitted volume and price, whether the submitted volume meets trading constraints, whether the submitted price meets the trading limit, whether the submission time is within the trading window, and whether the account ID submitted by the market participant is within the permitted range.

[0110] After the centralized declaration is completed, the transaction specialist will operate the power trading platform to perform clearing calculations, calculate and trade for 24 time periods respectively, and display the clearing results on the trading platform, including: (1) Clearing overview: total electricity declared by buyers, total electricity declared by sellers, total transaction electricity, total transaction average price, and a comparison chart of total electricity declared by buyers, total electricity declared by sellers, transaction electricity, and transaction average price for each time period; (2) Clearing overview by time period: transaction curves for each time period (including desensitized bid curves for buyers and desensitized bid curves for sellers), transaction classification, electricity declared by buyers, electricity declared by sellers, marginal electricity declared by buyers, marginal electricity declared by sellers, transaction electricity, marginal electricity price, marginal electricity price declared by sellers, and marginal electricity price declared by buyers.

[0111] After the centralized bidding process concludes, the rolling matching phase begins. Once the rolling matching phase commences, market participants can submit their bid data, specifying the trading direction (buy or sell) for each of the 24 time periods within the trading month, the daily trading volume for each time period, and the trading price for each time period within that month. The trading platform calculates the total trading volume submitted by the market participant for the month as 30 times the trading volume. The trading platform verifies the submitted data from market participants, checking the accuracy of the submitted volume and price, the submitted trading direction, the number of pending bids, whether the submitted volume meets trading constraints, whether the submitted price meets the trading limit, whether the submission time is within the trading window, and whether the account ID submitted by the market participant is within the permitted range.

[0112] As market participants submit their orders, the untraded electricity volume from valid and withdrawn orders is sorted into buyer and seller price queues, respectively, based on buyer prices from highest to lowest and seller prices from lowest to highest. When new buy or sell orders enter the queues, the trading platform matches the first order in each queue. If the conditions for a trade are met, the tradable electricity volume is removed from both the buyer and seller queues, and the trade is considered a successful transaction. The remaining untraded electricity volume remains in the queues, and this process repeats until the trading deadline. During the matching process, after each successful transaction, the top ten untraded prices and their total volume in both the buyer and seller queues for each time period are updated and displayed to market participants in real time.

[0113] Compared with the prior art, the present invention has the following advantages:

[0114] Because the value of medium- and long-term price curves is not quantified, different retail users lack a quantitative understanding of their own curve value. During the trial operation of spot settlement, some electricity sales companies failed to pass on profits to off-peak users, leading to increased electricity costs for off-peak users who then demanded to withdraw from the market, or electricity sales companies being unable to recover costs from some peak-peak users, resulting in losses. The application and trading methods of this invention can facilitate price transmission between the wholesale and retail markets, releasing the benefits of reform.

[0115] Excessive peak-hour decomposition in some medium- and long-term contract curves has significantly damaged the profits of many thermal power units, highlighting the contradiction between medium- and long-term contract electricity volume and curve adjustments. Under the current model, where curve value is difficult to measure, this contradiction is hard to resolve. In the system of this invention, thermal power companies can freely control their holdings in different time periods, which helps to further widen peak electricity prices, fully reflect market competition, and achieve greater trading flexibility. Users (including electricity retailers) can freely participate in time-of-use price competition based on their own curve characteristics, further discovering time-of-use price signals, and resolving the contradiction between medium- and long-term contract electricity volume and curve adjustments.

[0116] Under the current model, market participants cannot sign time-segmented medium- and long-term contracts based on their own characteristics. This results in a mismatch in electricity allocation across time periods, making it difficult to avoid the risk of high price volatility in the spot market even with a high proportion of contracted electricity volume. The system of this invention can provide more flexible risk management tools for different market participants.

[0117] The above description is only a preferred embodiment of the present invention. It should be noted that for those skilled in the art, several improvements and modifications can be made without departing from the technical principles of the present invention, and these improvements and modifications should also be considered within the scope of protection of the present invention.

Claims

1. A time-segmented trading system supporting continuous market opening in the medium to long term, characterized in that, include: The quotation module 1 is used to obtain quotation data for each time period from various market participants in the power trading market before the preset trading deadline. The centralized bidding transaction module is used to sort and compare prices based on the bidding data of each market participant in the quotation module 1 after the transaction deadline, obtain a unified clearing price, and perform centralized bidding clearing calculation on all market participants based on the unified clearing price to obtain the centralized bidding result. The quotation module 2 is used to obtain quotation data of each market participant for each time period during the preset transaction declaration period after the centralized bidding transaction. The rolling matching module is used to automatically match the bid data of each market participant in real time according to the order of their submission time in the quotation module 2 and the price priority principle, so as to obtain the rolling matching result. The transaction publishing module is used to publish the results of centralized bidding and rolling matching. The constraint update module is used to update market constraint information in real time during the trading process of the centralized bidding trading module and the rolling matching trading module. The data verification module is used to verify the quotation data obtained by quotation module one and quotation module two based on market constraint information and transaction configuration information. The quotation data that passes the verification is respectively entered into the centralized bidding transaction module and the rolling matching transaction module. The specific operation of the rolling matching transaction module is as follows: Based on the submission time of each market participant in the quotation module 2, the quotation data of each market participant is stored in the matching queue. When a new buyer's bid data is added to the matching queue, the seller's bid data with bid prices less than or equal to the new buyer's bid price are arranged in ascending order and matched with the new buyer's bid data in turn. The transaction price is the bid price of the party that submitted the bid earlier, until all the bid volume of the new buyer or the bid volume of the seller within the corresponding price range is matched. If the new buyer still has unmatched volume, the unmatched buyer's bid data will continue to be matched in the matching queue. When a new seller's bid is added to the matching queue, the buyer's bids with prices greater than or equal to the new seller's bid are arranged in descending order and matched with the new seller's bids in turn. The transaction price is the bid price of the party that submitted the bid earlier, until all the new seller's bid volume or the buyer's bid volume within the corresponding price range is matched. If the new seller still has unmatched volume, the unmatched seller's bid data will continue to be matched in the matching queue.

2. The time-segmented trading system supporting continuous market opening in the medium to long term according to claim 1, characterized in that, The quotation module 1 and quotation module 2 use the same table structure: the listing table and the queue list. The listing table is used for declaration query, market query, and order query; the queue list is used for input into the centralized bidding transaction module and the rolling matching transaction module.

3. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1, is characterized in that... The quotation data includes the declared electricity volume, declared electricity price, transaction direction, and quotation status of each market participant in each time period; the transaction direction includes buying and selling, and each market participant includes multiple trading units. When the market participant's transaction direction is buying, the corresponding trading unit under that market participant is the buyer, and when the market participant's transaction direction is selling, the corresponding trading unit under that market participant is the seller. Quotation status includes new, successful submission, failed submission, successful application, partially completed, fully completed, fully cancelled, and partially cancelled. During centralized bidding and rolling matching transactions, the quotation status is updated in real time.

4. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1 or 3, characterized in that... The specific operation of the centralized bidding trading module is as follows: After the transaction deadline, obtain the quotation data of each market participant from Quotation Module 1; Arrange the buyers' bid data in descending order of the declared electricity price to obtain the buyer bid sequence; Arrange the sellers' bid data in ascending order of the declared electricity price to obtain the sellers' bid sequence; When the buyer's bid sequence and the seller's bid sequence form a price-volume intersection, the bid price at the intersection is used as the unified clearing price. Buyer bid data A with a bid price greater than the unified clearing price and seller bid data B with a bid price less than the unified clearing price are obtained. The total bid volume of A and B is compared, and the bid with the smaller volume is selected to complete the transaction at the unified clearing price. When the buyer's bid sequence and the seller's bid sequence do not form a price-volume intersection, if the buyer's lowest bid price is higher than the seller's highest bid price, the total bid volume of the buyer and the total bid volume of the seller are compared, and the one with the smaller total bid volume is used to complete the transaction at the uniform clearing price. The uniform clearing price is the average of the bid prices of the last pair of buyers and sellers that are matched. When the buyer's bid sequence and the seller's bid sequence do not form a price-volume intersection, if the buyer's highest bid price is lower than the seller's lowest bid price, the transaction will not be completed.

5. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1, is characterized in that... The centralized bidding results include an overall clearing overview and a clearing overview for different time periods. The overall clearing overview includes the total transaction volume, the average transaction price, the total volume bid by buyers, and the total volume bid by sellers. The clearing overview for different time periods includes the transaction curves for each time period, the volume bid by buyers for each time period, the volume bid by sellers for each time period, the transaction volume for each time period, and the unified clearing price. The rolling matching results include the transaction price and transaction volume of each successful transaction during the rolling matching process, as well as the total transaction volume and average transaction price for each time period of the rolling matching.

6. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1, is characterized in that... In the constraint update module, market constraints include electricity constraints and electricity price constraints. Electricity constraints are divided into generation-side electricity constraints and user-side electricity constraints according to the type of market participants, and into buyable electricity constraints and sellable electricity constraints according to the direction of the transaction.

7. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1, is characterized in that... The system also includes a Redis caching module for caching position size, market constraint information, trading configuration information, and time-segmented information.

8. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 7, is characterized in that... In a time-segmented trading system, multiple threads conduct transactions simultaneously, and Redis locks are used to control the submission of each quote data. When a new quote data is received, it is checked whether a Redis lock corresponding to the market entity trading unit of the quote data exists in the Redis cache module. If not, a Redis lock with the trading unit ID as the key is added to the Redis cache module. If it exists, the newly received quote data is not submitted. When a quote data is successfully submitted, its corresponding Redis lock is deleted.

9. A time-segmented trading system supporting continuous market opening in the medium to long term, as described in claim 1, is characterized in that... In the data verification module, the quotation data is verified for quantity and price accuracy, price upper and lower limits, electricity upper and lower limits, and the number of ongoing applications. In the trading process of the centralized bidding trading module and the rolling matching trading module, accuracy verification, time verification, direction verification, and limit verification are performed.

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