Deutsche Börse Market Data + Services and Hungarian Power Exchange Ltd. (HUPX) have signed a cooperation in which HUPX will use Deutsche Börse’s global commodity trading platform M7 to establish a local intraday market for electricity in Hungary. HUPX is the licensed operator of the organized Hungarian electricity market. The exchange already operates the local day-ahead market that is coupled with Czech, Slovak and Romanian market areas as well as a futures market offering long term physical contracts for trading. M7 is part of Deutsche Börse’s “7 Market Technology” global IT architecture. The trading platform for commodities markets provides a flexible and fully scalable trading system for exchanges and brokers that brings together buyers and sellers in one electronic marketplace. “The Hungarian Power Exchange made the right decision. With our leading global IT solution our partners profit from reduced operational risk and higher efficiencies”, said Willy Suter, Head of Market Solutions, Deutsche Börse Market Data + Services. “This cooperation further strengthens our presence in European intraday electricity trading.” “Selecting the trading platform for the intraday market is another milestone for HUPX to meet the requirements of the European Union, which is one of our main goals in the future. In … continue reading
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Source: CTRM Center