Energy Business Motion

HUPX Intraday market

General Information
Trading procedure Continuous
Trading days Year-round
Underlying Electrical power transiting over the Hungarian Transmission System  managed by MAVIR Ltd. (the Hungarian TSO), which defines the voltage, frequency, cosine φ (displacement factor) and cut-off frequencies, in compliance with the regulations of the Grid Code of the Hungarian Electricity System.
Delivery Delivery at any injection or withdrawal point on the Hungarian Transmission System.
Tradable Contracts

Quarter hourly (15 min.)

For an hour (e.g. Hour 01), the following 15-minute contracts will open per the corresponding hour:





Trading session opens

24 hours a day

Contracts for the next day open at 3:45 pm
Clearing and Settlement Trade information transmitted by HUPX to the Central Counterparty, ECC AG for Settlement and Delivery of the Contracts
Delivery procedure Nomination by HUPX (together with ECC) and by the Balance Group Responsible of the HUPX Member to the TSO (MAVIR Ltd.) on the basis of the regulations of the Commercial Code of the Hungarian Electricity System
Minimum and maximum prices -9999.0 €/MWh / 9999.0 €/MWh
Admissible Orders

Delivery or purchase of electricity with a constant output during the quarter of an hour* in the Hungarian Electricity Transmission Grid owned by MAVIR. 96 consecutive trade contracts** are available for a day.

* four 15-minute contracts of the respective hour (e.g. hour 01 it will be 00:00-00:15, 00:15-00:30, 00:30-00:45, 00:45-01:00)

** Exceptions: 92 quarter hours are listed on the day of change to summertime (March), 100 quarter hours are listed on the day of change to wintertime (October).
Trading closes 90 minutes before delivery
Price characteristics In euro per MWh with two decimal digit price tick
Quantity characteristics in MW with one decimal digit
Minimum price increment

0. 01 €/MWh

Minimum Volume 0.1 MW
Block Orders
Definition Block Orders combine several Expiries with a minimum of two contiguous Expiries which depend on each other in their execution. Pre-defined Block Orders exist but HUPX Members are not restricted in the determination of the Block Orders.
Pre-defined block orders

The following Block Orders are pre-defined in the system:

  • Individual hours
  • Block Baseload covering hours 1 to 24
  • Block Peakload covering hours 9 to 20
Specific conditions

In case of Hourly Block Orders:

  • No execution restriction (NON)
  • Immediate-or-Cancel (IOC)
  • Fill-or-Kill (FOK)

In case of other Block Orders:

  • All-or-None (AON)
  • Fill-or-Kill (FOK)