HUPX

Energy Business Motion

HUPX Intraday market

For the current Intraday product list and specification visit Market Rules menu.

Product List and Specifications can be found below, effective from 1st of July with the introduction of 15 minutes lead time:
Market Rules Annex III.B. Product List and Specification - Intraday Market - v3.0 effective from 01.07.2021

General Information

Description

Short term physical Product of electricity power, delivered at the Hungarian Electricity Transmission System operated by TSO.

Basic quality of the underlying product

Electrical power transiting over the Hungarian Transmission System  managed by 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.

Physical Delivery

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

Delivery procedure (Nomination)

Nomination by the Clearing House (on behalf of HUPX) and by the Balance Group Responsible of the HUPX Member to the TSO on the basis of the regulations of the TSO Commercial Code.

Clearing and Settlement

Trade information transmitted by HUPX to the Central Counterparty, ECC AG for Settlement and Delivery of the Contracts

Trading procedure

Continuous

Trading days

Year-round

Gate Opening Time (GOT)

At 3:00 pm, one day before the Delivery Day

Gate Closure Time (GCT)

15 minutes before delivery period starts

Lot size (quantity characteristic during Order submission, minimum quantity)

0.1 MW

Maximum quantity

999 MW

Minimum and maximum prices

-9999.00 €/MWh / 9999.00 €/MWh

Tick size (price characteristic during Order submission)

One euro cent per MWh, 0.01 €/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.

  • HUPX INTRADAY MARKET - LOCAL QUARTERLY PRODUCT

    Contract specifications

    Product name

    Quarter_Hour_Power_Local

    Contract long name

    YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    QHH: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.

    Cross border allocation -

    Listing Day

    11 December, 2020 (first Delivery Day)

    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

    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)

    no

    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

    partial execution

  • HUPX INTRADAY MARKET - XBID QUARTERLY PRODUCT

    Contract specifications

    Product name

    XBID_Quarter_Hour_Power

    Contract long name

    YYYYMMDD HH:MM-YYYYMMDD HH:MM

    indicates the exact delivery start and delivery end

    Contract short name

    QHH: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)

      Cross border allocation   On Austrian-Hungarian and Romanian-Hungarian borders
    Cross-border allocation starts Around 22:00 pm, one day before the Delivery Day
    Cross-border allocation closes 60 minutes before delivery period starts

    Listing Day

    11 December, 2020 (first Delivery Day)

    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

    no

    Trade recall available

    no

    Block orders enabled (minimum of two subsequent delivery period)

    no

    Over-midnight blocks enabled

    no

    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

    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.

      Cross border allocation   -

    Listing Day

    20 November, 2019 (first Delivery Day)

    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)

      Cross border allocation   On Croatian-Hungarian, Austrian-Hungarian, Romanian-Hungarian borders
    Cross-border allocation starts Around 22:00 pm, one day before the Delivery Day
    Cross-border allocation closes 60 minutes before delivery period starts

    Listing Day

    20 November, 2019 (first Delivery Day)

    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

     Cross-border allocation  -

    Listing Day

    20 November, 2019 (first Delivery Day)

    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

     Cross-border allocation  -

    Listing Day

    20 November, 2019 (first Delivery Day)

    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