With the launch of 15-minute products on 30 September, CROPEX has introduced the hourly reference index CRODAX for the day-ahead market.
CRODAX represents the hourly index of the day-ahead market, reflecting the average price for each hour. It is calculated as the arithmetic mean of all 15-minute price intervals within that hour.
It is important to note that CRODAX does not indicate the actual prices at which trades were executed. Instead, it serves as an indicative benchmark, helping market participants monitor and analyze market movements throughout the day.