Hungary: Trading on HUDEX to be launched on 3 January 2018, SEE Energy News
In order to comply with the changed European Union regulations, significant changes are expected in the life cycle of HUPX – organized electricity market and CEEGEX – organized gas market as of 3 January 2018.
The currently traded physically settled futures products (PhF) will fall under the scope of the MiFID II regulation, applicable within the Member States of the European Union. Therefore, the trading of these products are going to be run within the HUDEX Energy Exchange. The operations of spot markets are remain within the same structure on HUPX as well as on CEEGEX. Bids can be placed on the platform of Trayport GlobalVision, which is a system known and trusted across Europe and which one is in use for the current PhF markets.
The European Commodity Clearing AG (ECC) will remain the Clearing House for electricity traded products, who fulfills the same position for current transactions on HUPX markets. In the case of gas trading, the Clearing House will remain the Keler Ltd. just as it does currently for CEEGEX products.
The electricity segment will provide financial settlement product, however, physical delivery can be requested depending on the members’ open positions. The physical delivery is executed though HUPX day-ahead market. Therefore, the dayahead trading system will be extended with two additional portfolios – one for weekly and one for monthly physical fulfillment. No variation is planned regarding the gas segment, while trading can be executed exclusively with physical settlement, within CEEGEX.