HUDEX

HUDEX Hungarian Derivative Energy Exchange

Products List and Specifications - Power segment

Please be informed that on the 12th of November, new financial short-term products will be introduced on HUDEX power segment. The new developments will include both baseload days and weekends as financial products.
For reaching the current HUDEX Power Product list and specification please use the following link:  

HUDEX Power Product list and specification 10.04.2018 - 11.11.2018

The HUDEX Power Product list and specification valid from 12.11.2018 is available here: HUDEX Power Product list and specification 12.11.2018 -

  • Long term products

    HUDEX Long Term Hungarian Financial Power Base Load Product

    Product Name

    HUDEX Long Term Hungarian Financial Power Base Load Product

    Description

    Long term financial product with the value of power from hour 01 on the first day of the Contract period until hour 24 on the last day of the Contract period where power may be delivered in the Hungarian Transmission System.

    Listing day

    3rd of January 2018

    Underlying product

    Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).

    Basic quality of the underlying product

    Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.

    Lot size (minimum tradable volume)

    1 MW

    Maximum quantity

    1000 MW

    Price characteristics

    In euro per MWh with two decimal digits

    Tick (minimum tick value)

    One euro cent per MWh; 0.01 €/MWh

    Minimum and maximum prices

    0.01 €/MWh / 1000.00 €/MWh

    Trading Days

    According to the Trading Calendar

    Trading session opening

    According to the Trading Calendar

    Trading procedure

    Continuous

    Clearing and Settlement

    The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.

    Settlement Prices

    Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.

    The determination of the final settlement price is based on an index which is the mean value of HUPX DAM base prices traded for the respective delivery period (Contract).

    Delivery Point

    No direct physical delivery shall be possible. Optional physical delivery may be requested. Physical delivery will be executed through HUPX Day-Ahead Market.

    HUDEX Long Term Hungarian Financial Power Base Load Contracts

    Contract series

    Front 4 individual Weeks

    Front 6 individual Months

    Front 7 individual Quarters (defined as Jan-Mar, Apr-Jun, Jul-Sep and Oct- Dec)

    Front 6 individual Years (defined as Jan-Dec)

    Contract size

    1 MW x days x hours

    Weekly Contract series:

    168 MWh (Normal week)

    167 MWh (March week summertime change)

    169 MWh (October week wintertime change)

    Monthly Contract series:

    672 MWh (Feb, non-leap)              743 MWh (Mar)

    696 MWh (Feb, leap)                    744 MWh (Jan, May, Jul, Aug, Dec)

    720 MWh (Apr, Jun, Sep, Nov)  745 MWh (Oct)

    Opening Day

    Opening of new Contract takes place at expiry of old Contract series

    Last Trading Day and cascading

    The Last Trading Day of a Contract takes place 2 Clearing House’s business days before start of the delivery period for weekly and monthly Contracts, and 3 Clearing House’s business days for quarterly and yearly Contracts.

    Yearly Contract cascades into 3 individual Monthly Contracts and 3 Quarterly Contracts. Quarterly Contract cascades into 3 individual Monthly Contracts.

    For Weekly Contract series no cascading is applied.

    Method of delivery

    HUDEX Member holding a position for a Contract may request physical fulfilment up to its positions for Monthly and Weekly products.

    Rules of physical delivery

    HUDEX ensures an internet-based webtool for submission of the physical delivery requests

    Deadlines of the submission:

    Weekly Products: one business day ahead of delivery until 11:00 CET

    Monthly Products: two business days ahead of delivery until 15:00 CET

    Monthly Contract is tradable until 13:00 CET on its last Trading Day due to the optional physical delivery process

    HUDEX Long Term Hungarian Financial Power Peak Load Product

    Product Name

    HUDEX Long Term Hungarian Financial Power Peak Load Product

    Description

    Long term financial product with the value of power from hour 09 on all weekdays, public holidays included until hour 20 during the Contract period where power may be delivered in the Hungarian Transmission System

    Listing day

    3rd of January 2018

    Underlying product

    Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).

    Basic quality of the underlying product

    Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.

    Lot size (minimum tradable volume)

    1 MW

    Maximum quantity

    1000 MW

    Price characteristics

    In euro per MWh with two decimal digits

    Tick (minimum tick value)

    One euro cent per MWh; 0.01 €/MWh

    Minimum and maximum prices

    0.01 €/MWh / 1000.00 €/MWh

    Trading Days

    According to the Trading Calendar

    Trading session opening

    According to the Trading Calendar

    Trading procedure

    Continuous

    Clearing and Settlement

    The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.

    Settlement Prices

    Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.

    The determination of the final settlement price is based on an index which is the mean value of HUPX DAM peak prices traded for the respective delivery period (Contract).

    Delivery Point

    No direct physical delivery shall be possible. Optional physical delivery may be requested. Physical delivery will be executed through HUPX Day-Ahead Market.

    HUDEX Long Term Hungarian Financial Power Peak Load Contracts  

    Contract series

    Front 6 individual Months

    Front 7 individual Quarters (defined as Jan-Mar, Apr-Jun, Jul-Sep and Oct- Dec)

    Front 6 individual Years (defined as Jan-Dec)

    Contract size

    1 MW x weekdays in Contract period x 12 hours

    Opening day

    Introduction of new Contract series is at expiry of old Contract series

    Last Trading Day and cascading

    The Last Trading Day of a Contract takes place 2 Clearing House’s business days (according to the Clearing House’s calendar) before start of the delivery period for weekly and monthly Contracts, and 3 Clearing House’s business days for quarterly and yearly Contracts.

    Yearly Contract cascades into 3 individual Monthly Contracts and 3 Quarterly Contracts. Quarterly Contract cascades into 3 individual Monthly Contracts.

    Method of delivery

    HUDEX Member holding a position for a Contract may request physical fulfilment up to its positions for Monthly products.

    Rules of physical delivery

    HUDEX ensures an internet-based webtool for submission of the physical delivery requests

    Deadline of the submission:

    Monthly Products: two business days ahead of delivery until 15:00 CET

    Monthly Contract is tradable until 13:00 CET on its last Trading Day due to the optional physical delivery process

  • Short term products
    HUDEX Short Term Hungarian Financial Power Base Load Product  

    Product Name

    HUDEX Short Term Hungarian Financial Power Base Load Product

    Description

    Short term financial product with the value of power on the Hungarian transmission system from hour 01 on the first day of the Contract period until hour 24 on the last day of the Contract period.

    Listing day

    12th of November 2018

    Underlying product

    Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).

    Basic quality of the underlying product

    Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.

    Lot size (minimum tradable volume)

    1 MW

    Maximum quantity

    1000 MW

    Price characteristics

    In euro per MWh with two decimal digits

    Tick (minimum tick value)

    One euro cent per MWh; 0.01 €/MWh

    Minimum and maximum prices

    0.01 €/MWh / 1000.00 €/MWh

    Trading Days

    According to the Trading Calendar

    Trading session opening

    According to the Trading Calendar

    Trading procedure

    Continuous

    Clearing and Settlement

    The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.

    Settlement Prices

    Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.

    The determination of the final settlement price is based on an index which is the mean value of HUPX DAM base prices traded for the respective delivery period (Contract).

    Delivery Point

    No physical delivery shall be possible.

    HUDEX Short Term Hungarian Financial Power Base Load Contracts  

    Contract series

    Front 6 individual Days

    Front 1 individual Weekends

    Contract size

    1 MW x days x hours

    Day Contract series:

    24 MWh (Normal day)

    23 MWh (day of summertime change)

    25 MWh (day of wintertime change)

    Weekend Contract series:

    48 MWh (Normal weekend)

    47 MWh (weekend of summertime change)

    49 MWh (weekend of wintertime change)

    Opening Day

    Opening of new Contract takes place at expiry of old Contract series

    Last Trading Day and cascading

    The Last Trading Day of a Contract takes place 1 Clearing House’s business day before start of the delivery period.

    No cascading is applied.

     

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