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On 10 August 2011, Tradition made the first Hungarian Power Exchange (HUPX) OTC cleared deal. It
was 5MW of Q112 Hungary Baseload, at 61.30 Euro/MWh. The trade will be cleared via ECX clearing house which also clears EEX business, this offers the possibility of cross market cleared spreads in the future.
Jason Curtis, Manager C.E.E., S.E.E. and Italian Power at Tradition, comments-
“Tradition is pleased to announce the successful cooperation with HUPX (The Hungarian Power Exchange) and will continue to innovate with new products in the Power markets of Central and South Eastern Europe. We hope that Cleared Power products in Hungary will complement the already liquidOTC market, adding to the Trading and Hedging Instruments already at our customers’ disposal.”
Kayi Ho – Marketing & Communications, Tradition
Tel: +44 (0)20 7198 5820
Tradition Energy is one of the world’s largest energy management and procurement advisors to commercial, industrial and governmental organizations with over 300 energy specialists in 11 offices covering both the wholesale and retail energy markets since 1986. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,500 people in 27 countries around the world and is publically listed on the Swiss stock exchange (CFT).