Major What are the distinctions and common elements of the following Services :Tender, Quote and Indication of Interest (Indication is in emix but not yet in Ei)?
Emix defines transactive states as follows:
Indication of Interest
Tender
Transaction
Delivery
Publication
And others:
Tender and transaction servicesare clear in Ei. Prices, quantities and intervals are specified in the payload. Delivery has a similar payload except the price may be separately communicated.
An Indication of interest is essentially a tender that is not binding on either Party. An indication of interest may suggest a price, quantity, product description, and scheduled intervals or any or all of these elements could be absent. An indication of interest may lead to one or more tenders by either of the parties and perhaps a transaction. Sounds like Indication need to be an additional Ei Service. ( or it could be a variation on Tender services.
Publication services can be after-the-fact (ex-post) private publication of tenders and transactions for consumption by the parties, for regulatory purposes, or where permitted, for public consumption.
Indications of interest and tenders can be one to one or one to many parties. One-to-many indications and tenders could be distributed or broadcast to many parties using various technologies.
What is a quote?
A quote service could be an ex-post publication service the price of transactions cleared in a market. It is not actionable, but is information only. Thus it has transactive state = publish.
If the quote is by a party that is offering to sell energy at a published quoted price perhaps based on previously cleared transactions then the quote is essentially a tender. Thus it has transactive state = tender.
Do we need a separate set of quote services or do we just use Tender and Publication Services?