HUDEX

HUDEX Hungarian Derivative Energy Exchange

REMIT Q & A

HUPX is the Registered Reporting Mechanism (RRM) for the automated reporting of HUDEX trading data in compliance with REMIT Art.8. HUPX is continuously enhancing its reporting service in accordance with new specifications and requirements communicated by ACER.

 

HUPX obtained the ACER RRM status on 7 th September 2015. Please see below the frequently asked questions:

1. What services is HUPX providing for REMIT reporting of the transactions and orders?

HUPX is able to forward all orders and trades executed at HUPX and at other OMP (Organised Market Place) directly to ACER since 7 th of October 2015. All other data, e.g. standard contracts traded outside of OMP and all non-standard data are forwarded to ACER since 7th April 2015.

2. What type of contract do you need to sign with HUDEX?

HUPX as an Organised Market Place offers three types of Data Reporting Agreements to HUDEX Partners:

  • A1: Data Reporting Service Agreement about the HUPX reporting based on REMIT of details of wholesale energy transactions executed at HUPX Market.
  • A2: Agreement about the access to data of details of wholesale energy transactions executed at HUPX Market.
  • A3: Guarantees that the data is ACER RRM format compatible.

3. What is your pricing schedule for the delegated reporting for HUDEX Members?

For HUPX Members the reporting service will be included in the annual membership fee. For non HUPX members the annual fee: 1000 EUR.

4. Will the RRM service take care of all orders/ trades/ lifecycle events concluded at HUPX? Or will HUDEX require the Market Participant to be involved in any of these activities?

All type of data required by ACER is available in the HUPX system; therefore HUPX does not need involvement from the Market Participants.

5. Will HUDEX offer a data access service for its clients (e.g. download of orders or transaction in ACER XML format) to enable them to report themselves?

Those Members who wish to fulfil their reporting obligations via a third party will also have access to their data in raw XML format.

6. Is there a Web GUI where Market Participants can view the data sent to ACER?

HUDEX will provide access for its contracted partners (in case of contract type A1 ) to the HUPX Reporting Portal (rrm.hupx.hu) where both the HUPX generated raw XML data files (only in case of contract type A1) and the ACER generated receipt files will be available. HUDEX will also provide status information on the portal about the data upload processes. Furthermore HUDEX will also publish the raw XML data files on its SFTP server for its contracted partners (in case of contract type A1, A2 and A3).

7. Will HUDEX provide the market participants with the ACER confirmation receipts for validation purposes?

Yes, the market participants will be informed about the current status of their data validation process. The market participants can follow the status of the data reporting on the HUPX RRM website.

8. How will HUDEX handle backloading or lifecycle events and the respective reporting mechanisms to ACER, RRM or to the client according to the trade reporting?

Backloading will be provided automatically by HUPX for HUDEX contracted participants, who concluded all their trades at HUDEX. All other data, i.e. standard contracts traded outside of HDEX and all non-standard data can be uploaded by market participants on rrrm.hupx.hu provided by HUPX from where proper data files can be sent to the ACER ARIS system.

9. Will partners receive any feedback regarding the upload process? Will there be any error messages?

Market participants will be able to monitor the uploading process and see the data reporting status via rrm.hupx.hu. In case of any error, relevant messages will be available on rrm.hupx.hu.

10. In case of any problem (f.e.: modification, network error, etc.) is it possible to retry the downloading or uploading process?

Yes, it is possible.

11. What if more than one person reports a contract? Will there be any error message?

HUPX will not check if one or more person reports a contract, but ACER has a validation procedure for these cases.

12. What is the reporting procedure if force majeure is declared, according to the agreement?

In order to ensure a safe and reliable service as set forth in the Agreement(s), HUPX Ltd. has a comprehensive backup IT system should the primary IT system experience any unforeseen difficulties regarding the reporting procedure. However, in case of a severe Force Majeure event as specified in Article 6 of the Agreement(s), such obligation(s) affected shall be suspended for as long as the Force Majeure event continues. If the market participants cannot reach the rrm.hupx.hu website, they have to send the raw XML data to the email address: remit@hupx.hu.

13. What is the Liability of the HUDEX? What if the HUPX server not available? However the data reporting is an obligation for the market participant, HUPX as an RRM has also strictly obligations.

HUPX will do everything what it could to forward the data. HUPX also secure data monitoring via e-mail (remit@hupx.hu) if the sever is not available.

14. If market participants choose to go with another RRM, is HUPX able to send the data to another RRM?

HUPX as an RRM is not in a contractual contact with any third party, therefore HUPX is unable to forward the data of the MP to another RRM.

15. In case of standard contracts traded outside of HUPX and all non-standard data, will HUPX also generate the UTI for those cases?

If the trade is executed at OMP the UTI should be generated by that OMP but if the trade is not executed via an OMP the UTI should be generated by the market participants or third parties on their behalf. For further information please take a look at ACER TRUM https://www.acer-remit.eu/portal/publicdocumentation

16. What code will HUDEX require from the Market Participant and will HUPX accept the Market Participant’s LEI code?

HUDEX will require the ACER-code.

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