Hungarian Derivative Energy Exchange

The Hungarian Derivative Energy Exchange (HUDEX Energiatőzsde Zrt.) was a Hungarian regulated market for energy derivatives, principally electricity and natural gas. It functioned as the organised derivatives venue within Hungary's liberalised energy market, providing standardized futures and forward contracts that market participants — generators, traders, suppliers and large industrial consumers — could use to hedge price and volume risk in power and gas. HUDEX was wholly owned by MAVIR Zrt., the Hungarian transmission system operator, which is itself state-controlled. That ownership placed the exchange inside the same institutional family responsible for the physical operation and balancing of the Hungarian electricity system, giving HUDEX a close relationship with the country's market-design and grid-management framework. Alongside the spot-oriented HUPX power exchange, HUDEX represented the derivatives leg of Hungary's organised energy trading infrastructure. As a regulated market, HUDEX operated under Hungarian and European financial-market rules for trading venues, with clearing and settlement arrangements typical of exchange-traded energy derivatives. Its product set centred on electricity and natural gas contracts, allowing participants to lock in prices for future delivery periods and to manage exposure across the forward curve. In 2026 the exchange ceased to exist as a separate legal entity. According to the company's own notice, MAVIR Zrt. as sole shareholder decided that HUDEX Energiatőzsde Zrt. would merge into M-IT Services Kft., a company exclusively owned by MAVIR Zrt., with effect from 30 June 2026. From 1 July 2026, M-IT Services Kft. became the universal successor of HUDEX Energiatőzsde Zrt., and public-interest information concerning HUDEX was moved to the M-IT Services website. This makes HUDEX a defunct exchange brand whose functions and records were absorbed into the MAVIR group's IT services entity.

The Hungarian Derivative Energy Exchange (HUDEX Energiatőzsde Zrt.) was established as the organised derivatives market for Hungary's energy sector, operating as a regulated market for electricity and related energy products. It formed part of the institutional architecture of the Hungarian power market, which was liberalised in line with European Union energy-market rules and centred on the activities of the transmission system operator MAVIR Zrt. HUDEX was wholly owned by MAVIR Zrt., the Hungarian transmission system operator. This ownership linked the derivatives exchange directly to the entity responsible for the physical transmission and balancing of the Hungarian electricity grid, and placed HUDEX alongside the HUPX spot power exchange in the country's organised energy-trading landscape. As a regulated market, HUDEX provided a venue where participants could trade standardized derivative contracts — principally electricity and natural gas futures and forwards — under a defined rulebook and with central clearing and settlement. The exchange served the hedging and risk-management needs of the Hungarian and regional energy market: power generators, traders, suppliers and large consumers could use its contracts to fix prices for future delivery periods and to manage exposure along the forward curve. Its product design and market rules were aligned with the broader European framework for energy derivatives trading. HUDEX's existence as an independent legal entity ended in 2026. According to the company's own notice, MAVIR Zrt., as the sole shareholder, had earlier decided that HUDEX Energiatőzsde Zrt. would merge into M-IT Services Kft., a company exclusively owned by MAVIR Zrt. The merger took effect on 30 June 2026. From 1 July 2026, M-IT Services Kft. became the universal successor (egyetemes jogutód) of HUDEX Energiatőzsde Zrt., assuming its rights and obligations. Public-interest information relating to HUDEX was thereafter made available on the M-IT Services website, and the company directed further enquiries to M-IT Services' contact channels. The HUDEX brand thus ceased to operate as a standalone exchange, with its functions absorbed into the MAVIR group's IT services company.

• HUDEX Energiatőzsde Zrt. merges into M-IT Services Kft., a company exclusively owned by MAVIR Zrt., with effect from 30 June 2026.

• M-IT Services Kft. becomes the universal successor of HUDEX Energiatőzsde Zrt.; HUDEX public-interest information moves to the M-IT Services website.

Hungary's regulated derivatives energy exchange, embedded in the state-owned MAVIR group and complementing the HUPX spot power market.

• Electricity derivatives

  Standardized derivative contracts on electricity, used to hedge price and volume risk in the Hungarian power market.

• Natural gas derivatives

  Derivative contracts on natural gas traded on the regulated market.

1. 1Tájékoztató jogutódlásrólhudex.hu
2. 2Hungarian Derivative Energy Exchange (Wikidata)wikidata.org
3. 3HUDEX public-interest information at M-IT Servicesmits.hu