HUDEX Workshop –

Membership

22 September 2017

HUDEX Workshop Program (1)

2

12:30-13:00 Arriving, networking

13:00-13:10Welcome

Péter Tóth – HUPX Ltd. CEO

13:10-13:20

HUDEX Introduction

Lobenwein Júlia – HUPX Ltd. Head of Sales

Launch of the new market

Why join HUDEX as an admitted HUPX/CEEGEX member?

13:20-13:50

MiFID II regulation

Hajnalka Kelemen – HUPX Ltd. Senior Legal Advisor

Implementation of MiFID II into Hungarian law

Termination of PhF products

Market Rules

13:50-14:10

HUDEX High Level Market design, products and trading

György Istvánffy – HUPX Ltd. Head of Market Development

HUDEX product specification

Trading process

Member testing

HUDEX Workshop Program (2)

3

14:10-14:30

HUDEX post trade processes

Gabriella Juhász – HUPX Ltd. Market Development Expert

Physical delivery and scheduling process

Publication of trading results

HUDEX reports for members

14:50-15:20

HUDEX clearing and settlement for Power Products

Anke Voigt – ECC Member Readiness

Financial settlement of trades

Admission

15:20-15:50

HUDEX clearing and settlement for Gas Products

Tamás Horváth – Keler CCP

Financial settlement of trades

Admission

15:50-16:10

HUDEX - How to join the market

Júlia Lobenwein – HUPX Ltd. Head of Sales

Condition of Membership on Power and Gas Segments

Admission process

Fees

16:10-16:30Questions and answers

HUPX Market Operation

HUDEX – Launch: 03/01/2018

4

Why join HUDEX as an admitted HUPX / CEEGEX member?

5

ID, DAM, Futures Power & Gas products available within one company group

Over 30 trading participants (power + gas) – including local trading companies

Cross Product Sales – Hungarian Power and Gas contracts

Optional physical delivery for Power Products, physical delivery for Gas Products

Price hedging, Risk management

Well-known Trading System: Trayport Globalvision

Financial Settlement

Elimination of Counterparty Risk

Transparent, Anonym Market

Condition of Membership on Power Segment

6

HUDEX Membership

Investment Firms Energy Traders

DeliveryWithout physical

deliveryPhysical delivery

Without physical

deliveryPhysical delivery

Certification of

competence

Investment firm

licence

Investment firm

licenceHEA license HEA license

Precondition

Technical membership

on HUPX

(for delivery of HUDEX

contracts)

Technical membership

on HUPX

(for delivery of HUDEX

contracts)

AgreementsBalance group

agreement

Balance group

agreement

Conditions of Membership on Natural Gas Segment

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HUDEX Membership

Investment Firms Energy Traders

Delivery Only physical delivery Only physical delivery

Certification of

competence

Investment firm licenceHEA license

AgreementsAgreement with the Hungarian natural gas

system operator, FGSZ Ltd.)

Agreement with the Hungarian natural gas

system operator, FGSZ Ltd.

How to become a HUDEX member

HUDEX Membership for non HUPX and CEEGEX Members

Preconditions:

Balancing group Agreement with MAVIR for Power (only for physical delivery)

HUPX technical Membership (only for physical delivery)

Network usage Framework contract with FGSZ for Gas (only for physical delivery)

Certification of competence

Clearing Membership Agreement

Appropriate assurance on deposit account at the clearing bank

HUDEX Trader Certificate

2. Check & Approval

The Documents are checked

by HUDEX and ECC / Keler

Approval as an Exchange

Member of HUDEX

1. Submission of the documents

Submission of all required documents to

HUDEX, ECC / Keler

Send KYC Answers

3. Admission

Connections to the Trading

System

Go-live

8

Contact:

info@hudex.hu

How to become a HUDEX member

HUDEX Membership for HUPX and CEEGEX Members

Preconditions:

HUPX / CEEGEX PhF Trader Certificate

Clearing Membership Agreement

Appropriate assurance on deposit account at the clearing bank

2. Check & Approval

The Documents are checked

by HUDEX and ECC / Keler

Approval as an Exchange

Member of HUDEX

1. Submission of the documents

Submission of all required

documents to HUDEX, ECC /

Keler

Send KYC Answers

3. Admission

Connections to the Trading

System

Go-live

9

Contact:

info@hudex.hu

Market Maker

10

Market Makers will further enhance the trading on HUDEX

HUDEX provides discount for Market Makers

Market Maker Conditions:

bidding and asking obligations, specification of the Contract types, the minimum

order quantities in MW and/or minimum traded volume in MWh, the maximum

spread between bid and ask prices in Euro/MWh, the period and session when the

commitment shall be fulfilled

Fees

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• * If the member is admitted to HUDEX, 3000 € discount is applied to HUPX and CEEGEX annual fee

• ** If the Member is admitted to CEEGEX, the Trading System Fee for HUDEX is 0 €

• *** For HUDEX Members Trading System Fee includes: One (1) user for Trayport GlobalVision and for the physical delivery two (2)

HUPX DAM ETS Delivery Portfolio (for weekly and monthly products)

HUPX CEEGEX

HUDEX ID DAM Flexible Classic

Fixed Fees

Entrance fee - 15 000 € 7 000 € 15 000 € -

Annual fee* - 12 600 € 6 500 € 12 000 € 3 000 €*

System fee*** 8 000 € 6 600 € 10 000 € 10 000 € 9 000 €**

Additional user 3 000 € 3 000 € 6 000 € 6 000 € 4 200 €

Additional portfolio - 2 000 € - - -

Read only 3 000 € 3 000 € 6 000 € 6 000 € 4 200 €

Transaction fees

Transaction fee power products (Initiator) 0,1 € 0,05 € - - -

Transaction fee power products (Aggressor) 0,1 € 0,05 € - - 0,025 €

Transaction fee for Virtual Trading Point Gas - - 0,09 € 0,01 €/0,01 €/0,005 € 0,003 €

Transaction fee for Locational Point Gas - - 0,12 € 0,04 € -

OTC transaction fee power and gas 0,1 € - - - 0,01 €

Delivery fee for power products - - - - 0,02 €

Implied spread transaction fee for power - - - - 0,015 €

Information on HUDEX / HUPX websites

12

HUDEX Project Timeline for HUPX PhF and CEEGEX PhF Members

13

June

2017

Sending

the Letter

of Intent

July & Sep

2017

HUDEX

Introduction

Workshops

Sending the

ECC / Keler

Documents

Sep - Dec

2017

Sending -

Signing the

Membership

Agreement

Nov – Dec

2017

Trading

System

Tests

Go live

03 Jan

2018

Sep - Nov

2017

Press Releases, News, Questions & Answers, Websites

HUDEX

Website

Tests

Nov – Dec

2017

02 Jan

2018

Position

Transfer

Thank you for your attention!

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