HUPX IDA Product specification
Planned go-live: Q2 2024
| General information | |
|---|---|
| Trading procedures | 3 auctions/day |
| Trading days | year-round |
| Underlying | Electrical power transiting over the Hungarian Transmission System managed by MAVIR Ltd. (the Hungarian TSO), which defines the voltage, frequency, cosine φ (displacement factor) and cut-off frequencies, in compliance with the regulations of the Grid Code of the Hungarian Electricity System. |
| Delivery | Delivery at any injection or withdrawal point on the Hungarian Transmission System |
| Delivery procedure (Nomination) | Nomination by the Clearing House (on behalf of HUPX) and by the Balance Group Responsible of the HUPX Member to the TSO on the basis of the regulations of the TSO Commercial Code. |
| Clearing and Settlement | Trade information transmitted by HUPX to the Central Counterparty, ECC AG for Settlement and Delivery of the Contracts |
| Trading procedure | 3 daily Auction |
| Trading days | Year-round |
| Delivery unit | 15 minutes |
| Start of trading | Q2 2024 |
| Tradable contracts (Expiries) |
In case of IDA 1 & IDA 2:1 quarter-hour of the day, altogether 96 quarter-hours Quarter-hour 01: the period between midnight and 00:15 am Quarter-hour 02: the period between 00:15 am and 00:30 am, and so on and so forth Quarter-hour 96: the period between 23:45 pm and midnight In case of IDA 3:1 quarter-hour of the day, altogether 48 quarter-hours Quarter-hour 01: the period between 12:00 and 12:15 am Quarter-hour 02: the period between 12:15 am and 12:30 am, and so on and so forth Quarter-hour 48: the period between 23:45 pm and midnight |
| Order types |
a) Linear (quarter-hour) Order; b) Block Order (simple, linked, exclusive) |
|
Lot size (quantity characteristic during Order submission, |
0.1 MW |
|
Tick size (price characteristic during Order submission) |
0.1 €/MWh |
|
Minimum and maximum prices |
[-9999 €/MWh; 9999 €/MWh] |
| Published results precision | 0.01€/MWh |
|
Gate Opening Time (GOT) |
45 days before the Delivery Day |
|
Gate Closure Time (GCT) |
IDA1: 15:00 (CET), one day before Delivery Day IDA2: 22:00 (CET), one day before Delivery Day IDA3: 10:00 (CET), on Delivery Day |
|
Publication time of final results (estimated) |
IDA1: 15:20 IDA2: 22:20 IDA3: 10:20 |
| Second auction | No |
ETS trading system
ETS Client
The existing ETS Client will enable members to trade and retrieve market results on IDA new auctions.
Format will not change. Configuration names (market area name, auction name) and sample files will be communicated at a later stage.
ETS API
For IDA API will be available. Webinars will be organised in 2024 to provide members with all required information for the go-live preparation.
Trading limits management
The existing trading limits for ETS will cover new IDA auctions. Members shall make sure that limits are sufficient for expected trading requirements.
Simulation environment and test sessions
Opening of the simulation environment, member test dates are planned for Q2 2024, subject to regulatory approval and successful testing. Further details for registration, connectivity and scenarios will be communicated at a later stage. Please note that there will be both coupled testing as well as testing in local mode so the members can get familiar with these new auctions.
Trading reports
The results of the new auctions will be published in reports currently available from the ETS client and the HUPX SFTP server. Reports for the IDAs will have the similar format as existing DAM reports.
Operational procedures
SIDC project parties will communicate in the coming months on all common operational procedures applying to these new pan-EU IDAs.