The Hungarian National Bank authorized the establishment of HUDEX Hungarian Derivative Energy Exchange Ltd. as a regulated market (exchange). Following the authorization, the Company Registry Court incorporated HUDEX on 18 May 2017, which has begun the preparation for operating a regulated market.
In order to comply with the changed European Union regulations a new Hungarian exchange was established. The currently traded physically settled futures products on organized electricity market HUPX and organized gas market CEEGEX, will fall under the scope of the MiFID II regulation, applicable within the Member States of the European Union as of 3 January 2018. In order to comply with the future regulation, the futures markets of HUPX and CEEGEX, as well as the HUPX Group need to be transformed. The trading under the financial regulation is going to be run within the HUDEX Energy Exchange Ltd.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: electricity, energy exchange, energy market, gas, HUDEX, Hungary, HUPX, regulation