[OASIS Issue Tracker] (ENERGYINTEROP-673) Bias in Matching Algorithm

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    [ https://issues.oasis-open.org/browse/ENERGYINTEROP-673?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=80640#comment-80640 ] 

David Holmberg commented on ENERGYINTEROP-673:
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When we talk about a bilateral order book market, a party submits a tender to the market-as-counterparty, since there is no knowledge a-priori who will transact on the tender. In a double auction, the party submits a bid to the market-as-counterparty, and there will be no bilateral trade. For the DA, the market accepts all bids and issues a clearing price, which indicates acceptance or rejection of the bid. I don't think it is an artifice to say that the market is the counterparty.Â

> Bias in Matching Algorithm
> --------------------------
>
>                 Key: ENERGYINTEROP-673
>                 URL: https://issues.oasis-open.org/browse/ENERGYINTEROP-673
>             Project: OASIS Energy Interoperation TC
>          Issue Type: Bug
>          Components: cts
>    Affects Versions: CTSPR01
>         Environment: Trevor Hardy, PNNL https://lists.oasis-open.org/archives/energyinterop-comment/202111/msg00000.html
>            Reporter: Toby Considine
>            Assignee: William Cox
>            Priority: Critical
>              Labels: CLARITY, MARKET
>
> page 16 line 261-262
> It has already been stated that CTS does not prescribe the nature of the matching engine but doesn't the definition of part and counter-party at least strongly imply some kind of matched bi-lateral trade? Double-auctions can artificially create the appearance of bi-lateral trades after the clearing price and quantity have been established but it would be a layer of artifice. For the concept of "party" and "counter-party" to be an integral part of CTS seems to heavily lean towards bi-lateral matching engines.



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