deck_14924216 (1)

Question 1

why does Japan have enormous potential?what is Japan’s electricity fuel mix?What is the Japanese partition?

Answer 1

2022 - Japan generated 966 Twh (equal to Germany and France)ideal environment for hedgingelectricity fuel mix: mostly coal and gas, and then renewables and then NuclearPartition = East (50Hz) vs West (60Hz)

Question 2

Why is Japan an ideal environment for hedging?

Answer 2

Fuel Mix – Gas, Coal, Renewables, Nuclear, etc = diverse opportunities for hedging71% of electricity fuel is imported – Japan is the no.1 LNG and no.3 thermal coal importer in the world. = opportunities for traders to hedge against price volatility in international marketsExtreme weather = price fluctuationsOne of the largest competitive electricity markets in the world - 86 million retail customers able to switch providers.= competition for traders to be innovative2 different frequencies between East and West with capacity load = need to manage using strategies

Question 3

What is Japan and Germany’s current trading volume

Answer 3

current: German power = 297 TWh, Japan power = 2.4 TWh

Question 4

What is Japan’s potential trading volume based on generation

Answer 4

493 TWh

Question 5

what are the Japan power trading volumes on EEX

Answer 5

close to 5 million (2023)

Question 6

What does Japan power generation equate to

Answer 6

Germany and France combined

Question 7

What is the Japan power market share

Answer 7

95% EEX, 5% TOCOM

Question 8

How many Japan power trading participants, how many active

Answer 8

60 trading participants, 25 active12 companies logging into trayport every month

Question 9

how many active japan power brokers, names

Answer 9

4 active brokers - Vanir, Enechain, GFI, Prebon

Question 10

what do japan power clients need (technical products)

Answer 10

Web front end and mobile app

Question 11

What are the 3 Japan power market initiatives?

Answer 11

TOCOM window - broker-to-broker downstreams, brokers see each other’s numbersBack office connectivity, - 80% reported through Trayport but zero penetration to japanese companiesNumbers on Screen - Direct screen access (

Question 12

what are the benefits of the initiatives

Answer 12

TOCOM window = gain access to network of 5 brokers ~60 trading participantsBack office connectivity = revenueNumbers on Screen = more traders and more numbers, Trayport reach

Question 13

what are the challenges of the initiatives

Answer 13

TOCOM window = Testing, inadequate joule mobile product, no webscreen, limited chance of successBack office numbers = Technical issues are yet to even be known, engagementNumbers on Screen = no one seeing numbers on screen (Kyle Hamilton’s), couldnt line up traders at the same time

Question 14

What are the advantages of the Singapore office

Answer 14

Cross teamworkdirect access to end usersfaster= superior end product

Question 15

recite the trayport situation report

Answer 15

Value = back office connectivity (not clearing STP)not many numbers on Japan power screen so no price discovery or execution20 traders/ month logging inNo Trayport license fees yetgoal: onboard 25 new traders this year

Question 16

What are the Trayport moves

Answer 16

TOCOM Window → Increase NETWORK by adding TOCOM usersDirect Screen (Joule Mobile) - Increase LOGINS by easier access Back Office Connectivity - double down on CONNECTIVITY strength, but difficult for Trayport to directly influence.New Participants - Building NETWORK to achieve critical mass for screen activity.

Question 17

What is the status of the japan power market

Answer 17

2 Exchanges: EEX 95% market share; TOCOM 5% ~60 Traders BUT only ~25 active 4 active Brokers:Vanir & enechain = 93%GFI & Prebon = 7%Top Euro traders Vattenfall & MFT

Question 18

What is Trayport’s Dilemma in Japan power

Answer 18

Traders won’t log in to Trayport if there are no orders to see.If there aren’t enough traders viewing Trayport, then traders won’t place orders on Trayport.

Question 19

What does Trayport need for Japan power

Answer 19

Web Front End / Mobile AppEase of Access - No internal IT approval, quick access Functional & Clean - low liquidity market, time to obtain the information must reflect the time allocated by userCompetition - CT Grid is trying to displace Trayport

Question 20

Summarize Singapore team

Answer 20

9 people - Small size advantage, dynamic Diverse Skills: Commercial, TCMS, Web, Testing, IT ops/infrastructure. Experience - 4 with 10+ years Similar to a Start-Up, its a highly collaborative environment.

Question 21

Why is Singapore a hub

Answer 21

~70 Clients serviced from Singapore15 Broker firms50 trader firms5 Exchanges200 usersDirect Access - Constantly meet commodity people in Oil, Shipping, Gas/LNG, Power, Bulk (Iron ore, coal) and now Carbon

Question 22

Summarize Singapore problems and solutions

Answer 22

Solution 1 - Increasing headcount will evolve the office naturallySolution 2 - Team is searching for that particular piece of work that can be done in SingaporeHow can we grow the team in Singapore? Seed a team in SingaporeFill vacant positions in Singapore instead of LondonWhat does Trayport need to build?Web Screen, Mobile App, Data Fields (aka Smart Price Formats for physical markets), Conditional Orders, Asia Server What do YOU need?Support? Boss told to hire in Singapore? etc