VisoTech certified as first independent software vendor for HUPX
AutoTRADER solution now available for intraday trading on the Hungarian Power Exchange
Vienna/Budapest, July 6th 2018. With the Periotheus autoTRADER, VisoTech is now the first company to be listed as an independent software vendor (ISV) on the Hungarian Power Exchange thus allowing members of HUPX to take advantage of fully automated algo-trading on the intraday market.
HUPX, the Hungarian Power Exchange, is responsible for the intraday, day-ahead and financial futures power markets providing full-scale trading platform for the trading community of the region. The exchange’s day-ahead market segment is coupled with the Slovakian, Czech and Romanian markets and cooperating with EPEX Spot and SEEPEX, the Serbian power exchange to create a cross-regional power exchange in Central and Southeastern Europe. In 2017, intraday trading on HUPX totalled 47.35 GWh, with price per MWh ranging widely from 155 EUR to -8 EUR.
As the first ISV certified for HUPX, VisoTech is the only company providing fully automated algo-trading on the Hungarian exchange. The Periotheus autoTRADER allows HUPX’s traders to focus on more strategic goals, to monitor their portfolios and optimize performance, while industry-specific trading algorithms take over the burden of looking for and executing favourable trades to match the selected strategies. And all of this day and night, without the cost of a 24x7 trading desk.
“As European power spot trading continues to grow, energy companies are looking for a broader variety of options and with them, greater liquidity. With HUPX we add yet another market, providing our existing customers further alternatives while making automated intraday trading available to a broader audience,” observed Jürgen Mayerhofer, Managing Director of VisoTech.
The Hungarian energy market is facing great change. Reform of the retail market has led to a consolidation of both power and gas suppliers, while imports have increased. Several older power plants are approaching end of their productive life, and their replacement is still a matter of discussion, while the market share of intermittent renewable energy sources are expected to grow rapidly requiring trading opportunities closer to real-time in order to handle weather fluxes. HUPX’s commitment to building a strong national and regional exchange will play a vital role in addressing challenges while making the energy market more efficient.
“At the moment, our members, along with energy companies worldwide, are facing a challenging market environment. Energy trading, especially intraday, will be key to meet these challenges and ensure a continuous, secure and affordable energy supply in the future,” Peter Tóth, CEO of HUPX commented. “As trading volumes increase, algo-trading is becoming a valuable solution to boost trading efficiency, allowing all market participants to get the most out of their trading activities.”
The software company VisoTech was founded in 1999 by the two partners Johannes Püller and Wolfgang Eichberger. With the autoTRADER, part of the company’s “Periotheus” solution, VisoTech is the market leader in fully automated power and gas spot trading. Furthermore, VisoTech has been Austrian market leader in energy logistics systems for many years. VisoTech’s Periotheus autoTRADER enables automated intraday trading in real-time on European power and gas exchanges such as HUPX, EPEX SPOT, Nord Pool, PEGAS and BSP SouthPool. Numerous energy companies, providers and traders are actively using Periotheus in nearly all European electricity and gas markets. Industry giants such as STEAG, Iberdrola, VERBUND, Rosneft, OMV and more rely on VisoTech’s solutions. www.visotech.com