TOD Markets operates regulated OTC infrastructure that standardises intraday electricity derivatives.
Our Time-of-Day products:
Segment the trading day into defined risk periods
Maintain fungibility across counterparties and tenors
Support liquidity concentration in standard contracts
Enable transparent screen-based price discovery
Contribute to forward curve formation from observable trading activity
The framework is designed to reflect how risk forms in a renewable-led system while preserving comparability, neutrality, and orderly market function.
Swap contracts settle against the AEMO RRP.
Our intraday swaps target periods where price risk is most concentrated:
Overnight (ON): 12am–6am (6h) – wind-weighted, lower-demand period
Morning Peak (MP): 6am–10am (4h) – demand ramp and system tightening
Midday (MD): 10am–4pm (6h) – solar-weighted oversupply and negative price risk
Evening Peak (EP): 4pm–8pm (4h) – highest demand and price risk
Late Evening (LE): 8pm–12am (4h) – post-peak residual volatility
Flat Day (FD): 24-hour exposure
These products are designed to support hedging for storage, intermittent generation, and flexible portfolios, allowing separation of intraday shape risk from flat (24-hour exposure) energy risk.
$300 Flat Cap | $600 Flat Cap – protection against extreme price spikes
$0 Flat Floor – protection against sustained negative pricing
(Quarterly and Annual)
Our contracts are offered in commonly accepted periods, aligning with standard business and trading cycles.
Quarterly - listed ahead 8 quarters
Annuals; Financial & Calendar Years - listed ahead 5 years
TOD Markets publishes daily closing Time-of-Day price curves derived from live orders and executed trades.
These curves reflect the collective risk views of active wholesale market participants, signalling where intraday value, volatility, and scarcity are being priced.
By making intraday risk visible, the curves:
Show where volatility is expected to concentrate
Reveal pricing of renewable oversupply and firming risk
Track the evolution and durability of intraday spreads
For investors, developers, and lenders, TOD curves provide investment signalling, observable revenue inputs, and a transparent reference for capital allocation and contract pricing.
TOD Markets’ curves are market-derived price signals, published daily, showing where the market is actively willing to hedge intraday risk.
Our team of voice brokers support the liquidity, and our trading platform enables efficient and transparent trading within our marketplace.