The ADEX Group has launched a common continuous intraday trading environment connecting the Slovenian, Hungarian and Serbian power markets in the three countries. The platform went live on October 20 after testing and migration involving the exchanges, market participants and project partners. The launch marks another step towards greater integration of Central and Southeastern European power trading.
Shared operations across three exchanges
Under the new arrangement, Slovenia’s BSP has assumed operational activities for ADEX’s continuous intraday markets. It will serve as the central operational contact for participants across the three exchanges, expanding BSP’s role within ADEX and building on its experience operating organised electricity markets.
The markets are now brought together in a common M7 trading environment, standardising a range of technical and operational processes. Participants will continue to trade only in the individual markets where they are admitted.
The arrangement is intended to simplify daily operations, align trade-limit management and create a more consistent framework across BSP, HUPX and SEEPEX. ADEX said the integration should also support more efficient market operations and give participants a unified technical interface for intraday trading.
Market operations and price differences
For traders, the change is less about establishing a single regional price than about improving the speed and consistency of intraday trading. The source of this need is the increase in renewable generation and more demanding balancing requirements.
The three markets are institutionally more closely linked, but they often record significant price differences because of transmission bottlenecks and differing generation balances. Physical interconnection constraints continue to limit full price convergence.
The next test is whether greater operational integration can lead to deeper liquidity and more efficient short-term balancing between Slovenia, Hungary and Serbia, even while those physical constraints remain.