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HUPX and MAVIR went live successfully with XBID


On 19 November HUPX and MAVIR went live successfully with XBID, the European Single Intraday Coupling (SIDC) Solution. Hungary joined as part of the 2nd wave extension of XBID alongside with six further countries and coupled with the fourteen already operational ones. The coupling process represents another important step towards expanding the single integrated European Intraday market.

As a result of the integration project, on 19 November at 21:56 the capacities for cross border trading appeared on screen and the actual cross border trading started on HUPX Intraday Market (IDM). In the first half an hour 167 trades were already concluded for the next delivery day in the amount of 784 MWh. The amount of available transmission capacities  - provided by MAVIR and it’s neighboring transmission system operators (TSO) - was high to all neighboring bidding zone borders without any limitations and orders from HUPX IDM screen got rapidly matched with orders from other market areas and the coupled order book became reasonably deep for all contracts with narrow spreads between the two sides.

The accession process went smoothly without any issues hindering the trading, both on HUPX and MAVIR side, as the operations teams of the companies reported. MAVIR beside it’s role as a TSO, supports the intraday coupling of HUPX as the responsible party (shipping agent) to fulfill the cross-border transactions. Both Parties consider the go-live a huge success, especially since the generated trading volume in the first half an hour was equal to roughly 3 times higher than on a usual trading day on the IDM before joining XBID.

Therefore, HUPX and MAVIR strongly believe that becoming part of XBID opens new horizons for the Hungarian Intraday Market and means great potential for further developing its market liquidity.