Abstract: We consider a model which describes the 2D flow of a conducting fluid surrounded by a ferromagnetic material, under the influence of the hysteretic response of the surrounding medium. We assume that this influence can be represented by the Preisach operator. After a short introduction concerning hysteresis and hysteresis operators, we will present the derivation of the model problem and the existence and uniqueness results which hold in the convexity domain of the Preisach operator. We will conclude with some open problems.