mumbai omx a global leader in providing solutions that run power exchanges is all set to provide solutions for indias first power exchange financial technologies group ftil a homegrown major in creating next generation financial markets will partner omx for setting up indian energy exchange iex ftil brings in experience in setting up and running among others multi commodities exchange mcx indias largest commodities exchange while omx is the technology solutions provider for nordpool the worlds leading power exchangefollowing the recent market deregulation iex is all set to start a nationwide market for trading in electricity iex is a joint initiative of ftil along with power trading corporation ptc the other key shareholders in iex are tata power reliance energy rural electrification corp infrastructure development finance company idfc adani enterprises and lanco infratech the exchange expected to go live in 2008 will be regulated by central electricity regulatory commission cercomx along with ftil will be the main contractors for the new exchanges energy trading solution the agreement includes implementation support and software licenses from omx nord pool and ftilthis is omx first foray into the indian market the stockholmbased company has operations in about 20 countries ftil believes in delivering best fit business solution for any market segment and omx is the ideal fit for power sector v hariharan director ftil saidsetting up of a power exchange is seen as an important step towards power sector reforms said tantra narayan thakur cmd ptc indiaone of the partners in iex in omx and ftil we found a supplier that could provide a proven robust and scalable technology solution for nationwide energy trading thakur said an energy exchange could serve to bridge the nationwide demandsupply mismatch in the energy sector by allowing surplus regions to trade power at optimal price with all buyers