When presenting at CTS in [virtually] Portland, I had to be quite precise about what to buy and sell.
What Products are available to trade in this market?
What is an Instrument?
You say this is all transactive resource management. What is a Resource?
In an email conversation with the Chairs, I threw this out With the TC s permission, I would like to adapt this for Section one of the CTS specification, now at WD01.
Using the pattern of inheritance, we have a thingie, which inherits schedule from a specific handle (gluon).
As defined in my panel slides, placing TE in the context of Transactive Resource Management (TRM)
Resources are commodities whose value is determined by time of delivery
Power, Energy
Transport
Ancillary Service
Network Bandwidth
Thermal
Water & Sewer
Products are chunks of Resource
Power denominated in 10kW over an Hour
A market Instrument names a specific Product
at a specified time
So now we have a name for that thingie it is a Product
And it is described, as per the definition as
For a TE product, this might look like
This means it is possible to query the Market/Market Context for all Energy products traded here. The products that come back are un-bound items, as per the WS-Calendar definition.
To create an instrument, a TE user need only anchor the Product with a specific time
An identical model is used for the Product inventory in the Market Context and for the Instrument.
A specific Tender puts a price and a quantity on the Instrument
I believe the Products sold on the market look exactly like partial tenders.
(yes, we could add references, i.e., number the products, and then say I am trading product #2, but that is a trivial change)