HUPX

Energy Business Motion

HUPX Intraday market

For reaching the current Intraday product list and specification please use the following link:  

Contract specifications valid from 19.11.2019

 

NEW Contract Specifications draft regarding introduction of XBID 15 min product from 10.12.2020

 

General Information

Trading procedure

Continuous

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.

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 ECC on behalf of HUPX and by the Balance Group Responsible of the HUPX Member to MAVIR Ltd. on the basis of the regulations of the Commercial Code of the Hungarian Electricity System.

Delivery

Delivery at any injection or withdrawal point on the Hungarian Transmission System.

Trading days

Year-round

Trading opens (GOT=gate opening time)

24 hours a day

Contracts for the next day open at 3:00 pm

Trading closes (GCT=gate closure time)

60 minutes before delivery

Minimum and maximum prices

-9999.00 €/MWh / 9999.00 €/MWh

Negative Prices

Negative prices are authorized where specified below (see minimum and maximum prices).

When a contract is traded with a negative price, it is legally regarded as a supply of service (removal service) by the recipient of power to the delivering party and not anymore as a supply of goods by the party delivering the power.

Price characteristics

In euro per MWh with two decimal digit price tick

Quantity characteristics

in MW with one decimal digit

Tick size

0.01 €/MWh

Minimum Volume

0.1 MW

Maximum Volume

999 MW

  • HUPX INTRADAY MARKET - LOCAL QUARTERLY PRODUCT

    Contract specifications

    Product name

    Quarterly_Local

    Contract long name

    QH-YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    HH:MM-HH:MM

    indicates the hours and minutes when delivery starts and ends on a respective day

    visible name in the trading system

    Availability

    Local

    Delivery unit

    15 minutes

    Delivery period

    Delivery starts with the first minute of the delivery day and subsequently in every 15 minutes: HH:00; HH:15; HH:30; HH:45

    For example:

    • 00:00-00:15
    • 00:15-00:30
    • 00:30-00:45
    • 00:45-01:00

    OTC registration available

    yes

    Trade recall available

    yes, within 15 minutes via trading system “recall” button, counterparty approval is needed

    except OTC registered trades

    Block orders enabled (minimum of two subsequent delivery period)

    no

    Over-midnight blocks enabled

    -

    Linked orders enabled (for basket submission)

    yes

    Iceberg order enabled

    yes

    Minimum peak size (of iceberg orders)

    0.1 MW

    Peak price delta
    (maximum price delta of different peak sizes)

    100.00 €/MWh

    Execution restriction

    partial execution

  • HUPX INTRADAY MARKET - LOCAL HOURLY PRODUCT
    Contract specifications

    Product name

    Hour_Power_Local

    Contract long name

    YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    HH:MM-HH:MM_Local

    indicates the hours and minutes when delivery starts and ends on a respective day

    visible in the trading system

    Availability

    Local

    Trading is only available in decoupling period. When the cross border coupling operates and cross border products are tradable these contracts are inactive.

    Delivery unit

    60 minutes

    Delivery period

    Delivery starts with the first minute of the delivery day and subsequently in every 60 minutes: H1:00; H2:00; H3:00; etc.

    For example:

    • 00:00-01:00
    • 01:00-02:00

    OTC registration available

    no

    Trade recall available

    yes, within 15 minutes via trading system “recall” button, counterparty approval is needed

    Block orders enabled (minimum of two subsequent delivery period)

    yes

    Over-midnight blocks enabled

    no

    Linked orders enabled (for basket submission)

    yes

    Iceberg order enabled

    yes

    Minimum peak size (of iceberg orders)

    5.0 MW

    Peak price delta
    (maximum price delta of different peak sizes)

    5.00 €/MWh

    Execution restriction

    single contracts: partial execution

    blocks: all or none

  • HUPX INTRADAY MARKET - XBID HOURLY PRODUCT
    Contract specifications

    Product name

    XBID_Hour_Power

    Contract long name

    YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    HH:MM-HH:MM_XB

    indicates the hours and minutes when delivery starts and ends on a respective day, visible in the trading system

    Availability

    Central XBID (remote)

    Delivery unit

    60 minutes

    Delivery period

    Delivery starts with the first minute of the delivery day and subsequently in every 60 minutes: H1:00; H2:00; H3:00; etc

    For example:

    • 00:00-01:00
    • 01:00-02:00

    OTC registration available

    no

    Trade recall available

    no

    Block orders enabled (minimum of two subsequent delivery period)

    yes

    Over-midnight blocks enabled

    yes

    Linked orders enabled (for basket submission)

    yes

    Iceberg order enabled

    yes

    Minimum peak size (iceberg orders)

    5.0 MW

    Peak price delta
    (maximum price delta of different peak sizes)

    5.00 €/MWh

    Execution restriction

    single contracts: partial execution

    blocks: all or none

  • HUPX INTRADAY MARKET - LOCAL OTC HOURLY PRODUCT
    Contract specifications

    Product name

    Hour_Power_Local_OTC

    Contract long name

    OTC-YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    HH:MM-HH:MM_OTC

    indicates the hours and minutes when delivery starts and ends on a respective day, visible in the trading system

    Availability

    Local, no trading on the screen

    Delivery unit

    60 minutes

    Delivery period

    Delivery starts with the first minute of the delivery day and subsequently in every 60 minutes: H1:00; H2:00; H3:00; etc

    For example:

    • 00:00-01:00
    • 01:00-02:00

    OTC registration available

    yes, only OTC registration available

    Trade recall available

    no

    Block orders enabled (minimum of two subsequent delivery period)

    no

    Over-midnight blocks enabled

    -

    Linked orders enabled (for basket submission)

    -

    Iceberg order enabled

    -

    Minimum peak size (iceberg orders)

    -

    Peak price delta
    (maximum price delta of different peak sizes)

    -

    Execution restriction

    OTC registration can be only fully accepted, partial execution is not feasible

  • HUPX INTRADAY MARKET - LOCAL OTC USER-DEFINED BLOCK PRODUCT
    Contract specifications

    Product name

    Hour_Power_Local_OTC_UD

    Contract long name

    OTC-YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    HH:MM-HH:MM_OTC

    indicates the hours and minutes when delivery starts and ends on a respective day

    visible in the trading system

    Availability

    Local, no trading on the screen

    Delivery unit

    60 minutes

    Delivery period

    Delivery starts with the first minute of the delivery day and subsequently in every 60 minutes: H1:00; H2:00; H3:00; etc

    For example:

    • 00:00-01:00
    • 01:00-02:00

    OTC registration available

    yes, only OTC registration available

    Trade recall available

    no

    Block orders enabled (minimum of two subsequent delivery period)

    yes, only blocks available with the minimum size of two subsequent delivery period

    Over-midnight blocks enabled

    no

    Linked orders enabled (for basket submission)

    -

    Iceberg order enabled

    -

    Minimum peak size (iceberg orders)

    -

    Peak price delta
    (maximum price delta of different peak sizes)

    -

    Execution restriction

    OTC registration can be only fully accepted, partial execution is not feasible