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Regulatory Disclosure

Quantitative Disclosure (CPMI-IOSCO)

The CPMI-IOSCO Principles for financial market infrastructures (PFMI) states that these financial market infrastructures (FMIs) should provide relevant information to participants, relevant authorities and the broader public. Quantitative data are important components of the set of public disclosures that is expected of FMIs as part of satisfying the PFMI.

 

Following Principle 23 of CPMI-IOSCO, in the beginning of 2016 OMIClear started to disclose the “basic data” on transaction volumes and values and common minimum set of quantitative information on the financial condition, financial resources and performance of the CCP.         

 

2019.zip                    2018.zip                    2017.zip                    2016.zip                    2015.zip

Renumeration Policy (art. 26 EMIR/art. 10 RTS)

As per EMIR article 26.º and RTS 153 article 10.º, OMIClear must adopt a remuneration policy that promotes sound and effective risk management, and which does not create incentives for less stringent risk standards and make available to the public its key elements.

 

According to this obligation, OMIClear’s Appointment and Remuneration Committee is the responsible for the design and development of the remuneration policy. The following provides an overview of OMIClear’s remuneration scheme.

 

Underlying principles

OMIClear’s remuneration policy is developed in order to promote the following principles:

  • Reinforce the strategic objectives established by OMI Group;
  • Promote sustainable growth;
  • Compensate individual performance and dedication;
  • Promote the retention and engagement of employees;
  • Prevent any type of direct or indirect gender-based discrimination;
  • Treat equally similar job positions, distinguishing the degree of responsibility;
  • Comply with the remuneration regulations, specifically regarding the risk, compliance and internal audit functions.

 

Components of the remuneration

The remuneration of all employees and the executive board members is composed of a fixed component, social and fringe benefits and, depending of the job position, its organizational relevance and the scope of responsibility assumed, a variable component.

 

The fixed component consists of the basic salary that remunerates the employee or executive board member for their knowledge, experience and position. The fixed base salary, which is determined in the individual employment contract, is stablished based on an evaluation of internal comparisons and external market rates for the position.

 

Adding to the fixed base salary, all employees and executive board members also benefit from a group health and work accident insurance and lunch allowance.

 

The remuneration of the executive board members also has a variable component, determined according to the achievement of the Company’s main annual objectives and conditioned by the compliance with the risk management policy.

There is no remuneration paid in the form of profit sharing.

OMIClear’s board members, secretary and alternate secretary can also receive a fixed presence income for each attendance at the general board meetings.

 

The variable remuneration component of the Chief Operating Officer (COO) is determined by the level of achievement of the main annual individual objectives, according to the performance appraisal model. In order to compensate the sustained effort to achieve his main objectives, as well as his permanence and an adequate risk management, the COO can receive a multiannual variable remuneration.

The COO’s variable remuneration is limited to the evolution of OMIClear´s net income.

 

The variable remuneration applicable to employees working in risk management, regulatory compliance and internal audit will be determined mainly by the degree of achievement of the individual and area objectives based on the activities and functions attributed to them and independently of OMIClear’s profits. Under no circumstances will these criteria be linked to the Company assuming greater exposure to risk.

The assessment of the degree of compliance with the objectives set will be the responsibility of the President of the Risk Committee, in the case of the responsible for the risk function (CRO), and of the President of the Audit and Compliance Committee in the case of those responsible for internal control (CIA) and verification of compliance (CCO).

 

The Board may decide to grant a variable remuneration to the remaining staff, which will be determined based on individual performance appraisal, considering the level of compliance with the Company’s main objectives and the department in which the employee is integrated.

The variable remuneration is limited to the evolution of OMIClear’s net income.