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Clearing and Settlement Committee

  • OMIClear has in place a Clearing and Settlement Committee (CSC) since the beginning of its activity (July 3rd, 2006).
  • The CSC consist of an advisory body of OMIClear composed by representatives of the Clearing Members , combining the knowhow and experience from both energy and financial sectors. Each Clearing Member has the right to appoint one representative to the CSC.
  • The CSC meetings are held three times a year in order to address topics related to the clearing and settlement services provided by the CCP, including:
    • Discussion of new products to be cleared by OMIClear;
    • Analysis of new developments in the clearing system and evaluate the solutions that better fit OMIClear players’ needs;
    • Prior presentation of new clearing and settlement rules to be implemented or proposal of modifications to the ones already in place;
    • Other topics that might impact OMIClear’s activity as CCP.