Energy · 2023–2026Pre-launch
US power and natural gas
I built a venue where a hedge on US power or US natural gas can stay open around the clock, settle immediately, and sit fully on collateral. It was ready to launch. It had not taken a live order.
Key points
- Round-the-clock venue for US power and Henry Hub
- Instant settlement, fully on collateral
- Launch-ready; no live order
- Twenty firms committed to the hedge book
KPI
Chart
Report
- Status
- Pre-launch. Launch-ready. No live order flow.
- Market
- US power on the Texas grid (ERCOT) and US natural gas at Henry Hub.
- Product
- Perpetual swaps and futures. Open around the clock. Instant settlement. Fully backed by collateral.
- Role
- Technical co-founder and chief product officer. Design leads and front-end, plus two people on back-end and DevOps.
What I built
I integrated a C++ order book into twelve Go services. I did not write the matching core. I wrote the bridge into Go, carried prices that can go negative, and fixed stops that failed when the market gapped. Negative prices matter on a grid that sometimes has too much generation.
The mark had to agree across ERCOT, CME, and ICE. A stale or outlier feed failed closed, so a bad price could not become a trade. Liquidation was rebuilt so three races could not double-charge a position: one admission gate, a drain that has to finish, and a key so the same episode cannot run twice.
I built a research-grade margin engine: a scenario scan of the book, and a clearing-style initial margin (the collateral required up front). I also described the cloud platform in about 4,900 lines of Terraform. Coding models were allowed near this build only through a five-stage loop: research, a written spec, implementation, evaluation, another pass. Two founders. A person approved anything that touched rules, risk, or money.
Inferred. I designed a Henry Hub index as the reference price, with a live calculation and a fallback if a feed died. The CV marks this as an earlier design, not fully checked against the current code.
What the numbers are
Twenty trading firms committed to a hedge book of about $80–100 million a month. I raised $2 million. A local test saw a typical slow reply around 4 milliseconds at about 1,000 orders a second.
What this does not claim
- No live orders, and the committed book is not traded volume.
- The 4 millisecond figure is a lab gate, not production throughput.
- The margin engine is not a live clearing house.
- Terraform was applied to a staging account, not production.
- A UK innovation pathway, a Bermuda Class T application, and a place in the FCA Digital Sandbox. That is a file and a cohort. A licence was not granted.
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