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The expansion of the Hungarian Power Exchange has reached another significant milestone. HUPX and its project partners today announced that HUPX extended its services by opening the Hungarian Intraday Market, whereby not only hourly blocks, but also intraday 15 minutes products can be traded on HUPX.
Speaking at the launch, Mr. Zsolt Bertalan, CEO of HUPX, said: „In January the number of attendees on our Intraday Market Workshop signalled a very high interest in this new market, the HUPX team together with our partners - Deutsche Börse AG and European Commodity Clearing AG - have worked hard on setting up a cutting edge trading system, which will contribute to our Intraday Market to live up to the expectations.”
Internal and external tests for HUPX Intraday Market System have been performed successfully and the settings have been finalized. After a fluent admission process, HUPX Intraday Market opened today with 24 members.
In favour of HUPX Members professional standards are accessible both in terms of trading and clearing services.
The main aim was to introduce a reliable modern, future oriented solution, which can be smoothly migrated into the future XBID Solution and which provides a high-level of service for HUPX Members. HUPX relies on Deutsche Börse’s M7 Trading System as the intraday trading platform. Parties have been working together to develop a solution with additional functions in order to meet all specific requirements of market participants.
Deals made on the new market segment will be cleared by European Commodity Clearing (ECC), the central clearing house for energy and related products in Europe, part of EEX Group.
On the HUPX ID Market, 15 min products and one hour blocks are both tradable and market data is published on the www.hupx.hu website every 15 minutes. The next step of the project is to implement the cross-matching of the 15 min products with hourly blocks later this year.
The organized Hungarian Intraday Market ensures the opportunity for members to optimize their portfolio closer to delivery and reduce balancing cost. Trading on HUPX ID Market will foster to manage forecast errors and unexpected power plant outages.
HUPX is convinced that the new market will attract market participants and boost power trading of the region significantly.
> Find out more about HUPX on www.hupx.hu
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