CEEGEX, the new success story of HUPX Group
GroupCEEGEX Central and Eastern European Organized Natural Gas Market is the new rising star of HUPX Group. Established in January 2013, CEEGEX grew into a dynamically developing gas market, reaching 30 members this week and record-breaking trading volumes in 2018.
With the admission of OMV Gas Marketing and Trading GmbH and Udinex SPLLC there are already 30 members trading on CEEGEX’s platform. From the beginning of the year, the gas exchange welcomed all together 8 new members on its spot market. The company is continuously working on further improvements in order to provide an advanced trading environment for its members, as for example the recently introduced pre-trade limit handling mechanism. This mechanism enables control before a transaction would be concluded thus ensures a safe, more transparent and reliable operation.
These developments also contributed to record-breaking trading results: in July 2018, traded volume exceeded the double of 2017’s annual volume. Last year this amount was 2014 GWh while by the end of September 2018 the year to date trading volume exceeded 5967 GWh and the exchange is hoping to get to 8 TWh by the end of the year. The highest monthly traded volume of 940 GWh was also realized this year in March, being more than 10 times higher than the 81 GWh made in the same period in 2017.
In addition to the results achieved so far this year, further developments and product range expansion are planned. The main aim is to increase the confidence of the market players and to exploit an even broader potential of the Hungarian gas market.
On the 28th of September the HUPX Group organised a successful workshop with more than 60 participants to introduce the latest market trends and opportunities on the Hungarian power and gas markets.
As also mentioned on the workshop the next promising market to look out for is the HUDEX gas market, whereby the exchange is working on admitting new trading companies to the 17 existing members, contracting new market makers and introducing new products, like the Balance of Month, Seasonal and Yearly products in 2019.