HUDEX takes over energy market physical futures
The HUDEX Hungarian Derivative Energy Exchange announced the launch of operations today. Physical futures in electricity and gas, which were earlier traded on the HUPX electricity and CEEGEX gas markets, will now be traded on the HUDEX to comply with the Markets in Financial Instruments Directive (MiFID) applicable in EU member states from January 3, 2018.
The National Bank of Hungary (MNB) authorized the establishment of HUDEX Hungarian Derivative Energy Exchange Ltd. as a regulated market (exchange).
"The aim of HUPX Group is to ensure the continuous availability of the currently traded power and natural gas physical futures products - subject to the new requirements – and at the same time to exploit the product development potentials offered by the new regime," state news agency MTI quoted HUDEX as saying.
Trade on the HUDEX will start with 24 members, but this number is expected to rise to 30 by the end of January.
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