Source: Deutsche Bourse
Deutsche Börse Market Data + Services and Hungarian Power Exchange Ltd.
(HUPX) have signed a cooperation in which HUPX will use Deutsche Börse’s global commodity trading platform M7 to establish a local intraday market for electricity in Hungary.
HUPX is the licensed operator of the organized Hungarian electricity market.
The exchange already operates the local day-ahead market that is coupled with Czech, Slovak and Romanian market areas as well as a futures market offering long term physical contracts for trading.
M7 is part of Deutsche Börse’s “7 Market Technology” global IT architecture. The trading platform for commodities markets provides a flexible and fully scalable trading system for exchanges and brokers that brings together buyers and sellers in one electronic marketplace.
“The Hungarian Power Exchange made the right decision. With our leading global IT solution our partners profit from reduced operational risk and higher efficiencies”, said Willy Suter, Head of Market Solutions, Deutsche Börse Market Data + Services. “This cooperation further strengthens our presence in European intraday electricity trading.”
“Selecting the trading platform for the intraday market is another milestone for HUPX to meet the requirements of the European Union, which is one of our main goals in the future. In addition, we would like to extend our services to meet the requirements of our members and future business partners,” explained Zsolt Bertalan, CEO of HUPX.
In accordance with the European Union’s Target Model for an Internal Energy Market as well as to respond to the local needs of the market, HUPX is committed to establish a local intraday electricity market, in a transparent, continuous trading based intraday trading environment. Such a market can be a valuable tool when unexpected outages, unplanned maintenances, fluctuations in renewable power generation or market forecast errors of short-term loads occur.
Deutsche Börse will host and operate the M7 platform on its servers and provide technical services while HUPX will organize and maintain the market operations of the local intraday electricity market.