1. Transmission system operators and NEMOs shall jointly organise the management of the integrated day-ahead and intraday markets in accordance with Regulation (EU) 2015/1222. Transmission system operators and NEMOs shall cooperate at Union level or, where more appropriate, at a regional level in order to maximise the efficiency and effectiveness of Union electricity day-ahead and intraday trading. The obligation to cooperate shall be without prejudice to the application of Union competition law. In their functions relating to electricity trading, transmission system operators and NEMOs shall be subject to regulatory oversight by the regulatory authorities pursuant to Article 59 of Directive (EU) 2019/944 and ACER pursuant to Articles 4 and 8 of Regulation (EU) 2019/942.
2. Day-ahead and intraday markets shall:
(a)
be organised in such a way as to be non-discriminatory;
(b)
maximise the ability of all market participants to manage imbalances;
(c)
maximise the opportunities for all market participants to participate in cross-zonal trade in as close as possible to real time across all bidding zones;
(d)
provide prices that reflect market fundamentals, including the real time value of energy, on which market participants are able to rely when agreeing on longer-term hedging products;
(e)
ensure operational security while allowing for maximum use of transmission capacity;
(f)
be transparent while at the same time protecting the confidentiality of commercially sensitive information and ensuring trading occurs in an anonymous manner;
(g)
make no distinction between trades made within a bidding zone and across bidding zones; and
(h)
be organised in such a way as to ensure that all markets participants are able to access the market individually or through aggregation.