Hungary: HUPX chooses German trading platform for Intraday Electricity Market, SEE Energy News
The German exchange Deutsche Börse Market Data and the Hungarian electricity exchange HUPX have signed a cooperation agreement according to which HUPX will use Deutsche Börse trading platform M7 for establishing a local intraday electricity market in Hungary.
HUPX is a licensed operator of the Hungarian organized electricity market. The exchange already exists on the day-ahead market which is coupled with the Czech, Slovakian and Romanian markets.
M7 is a part of the German market “7 Market Technology“ with a global IT architecture. The trading platform enables a flexible and completely adjustable trading system for the exchange and brokers, bringing both the purchasers and the sellers together on a single electronic market.
In the German exchange, they say that this is the right decision for the Hungarian electricity exchange. They claim that, with their leading global IT solution, the Hungarian partners will achieve profit by reducing the operational risk and through a higher efficiency. The cooperation will also strengthen the presence of the German exchange in the European intraday trade.
“The selection of this trading platform for the intraday market is another step for HUPX in fulfilling the requirements of the European Union, which is one of our main objectives in the future. In addition to this, we want to expand our services so as to fulfil the requirements of our members and of our future business partners“, said Zsolt Bertalan, HUPX director.
In accordance with the European model for internal electricity market, but also in order to respond to the local market requirements, HUPX has undertaken to establish a local intraday electricity market, in a transparent way with a special emphasis on environmental protection. Such market can be a useful means when it comes to unexpected interruptions, unplanned oscillations in renewable energy, i.e. when there are short-term loads.
As the host, the German exchange will manage the M7 platform on its servers and it will provide technical services, whereas HUPX will organize and maintain the business operations on the local intraday market. , transmits Serbia-energy.eu