MET Austria becomes Market Maker for HUPX PhF Market
MET Austria Energy Trade GmbH, a company that operates as a subsidiary of MET Holding AG, has signed a Market Maker Agreement with HUPX Hungarian Power Exchange.
HUPX has accepted MET Austria as a new trading participant on the HUPX Physical Futures Market on 9 March 2017 and was delighted to welcome the company as a market maker as of 1April 2017.
A market maker is obliged to set bid and ask orders on each trading day, to enhance liquidity and to increase trading activity at the Futures Market.
“This is an important step towards building a liquid competitive futures market ahead of getting ready for the MiFID II regulation and receiving a licence for becoming a Regulated Market for financial products. We are looking forward to working with such a key player on the Hungarian market.” said Mr. Péter Tóth, CEO of HUPX.
“The MET Group is dedicated to support the power market in Hungary to strengthen its hub position in the CEE-SEE region.” said Mr. Balázs Lehőcz, CEO of MET Power.
Parties are convinced that the new market maker will further boost the liquidity of HUPX PhF Market and support HUPX with providing competitive market prices, thereby attracting more players.
HUPX operates efficient, secure Physical Futures, Intraday and Day-ahead power markets in Hungary. The Physical Futures Market was launched in July 2011. With a total traded volume of 6,9 TWh in 2016, 27 companies from 15 countries trust HUPX to define a transparent and reliable power price.