How to become a participant

• Role Description:

Participant with access to a trading platform connected with OMIClear (eg. Trading Member of OMIP), being capable to register trades in OMIClear for its clearing and settlement.

• Eligible Entities:

Legal person authorized to operate in OMIClear’s Service on Power Derivatives Contracts and /or the Service on Natural Gas Derivatives Contracts.

• Required Information:

To assume the role of Registration Agent (RAg) the applicant shall provide the following information to OMIClear:

• Membership roadmap:

• Role Description:

Buying or selling counterparty of every position that is registered in OMIClear on own account and/or entities in a control or company group relationship.

• Minimum Capital and Risk  Requisites:

Please see OMIClear’s Instruction B02/2014 - Requirements for Clearing Members (OMIClear’s Instructions are available for download here).

• Eligible Entities:

- Qualified investors, as defined in paragraph (1)(a) to (h) of Article 30 of the Portuguese Securities Code;

- Entities of the Energy Sector.

• Required Information:

To assume the role of Direct Clearing Member (DCM) the applicant shall provide the following information to OMIClear:

• Membership roadmap:

• Role Description:

Buying or selling counterparty of every position that is registered in OMIClear on own account and/or third party account.

• Minimum Capital and Risk  Requisites:

Please see OMIClear’s Instruction B02/2014 - Requirements for Clearing Members (OMIClear’s Instructions are available for download here).

• Eligible Entities:

- Credit institutions;

- Financial intermediaries.

• Required Information:

To assume the role of General Clearing Member (GCM) the applicant shall provide the following information to OMIClear:

• Membership roadmap:

• Role Description:

Cash settlements of the positions registered in OMIClear on own account or on behalf of Clearing Members with which it has signed a financial settlement agreement.

• Eligible Entities:

Credit institutions  that participate in the TARGET2 Settlement System as Direct Participants, Indirect Participants or BIC Addressees.

• Required Information:

To assume the role of Financial Settlement Agent (FSAg) the applicant shall provide the following information to OMIClear:

• Membership roadmap:

• Role Description:

Physical delivery (assuming buy/sell orders at OMIE spot market) for own account or on behalf of clients holding physical power  registration accounts with which it has signed a power physical settlement agreement.

• Eligible Entities:

- ‘Market Agents’ on the power spot market managed by OMIE;

- Entities holding power physical settlement accounts at OMIClear that are univocally associated with ‘UCPs – Unidades de Contratación a Plazo’ at OMIE, according with the specific rules of this spot market.

• Required Information:

To assume the role of Power Physical Settlement Agent (PSAg) the applicant shall provide the following information to OMIClear:

• Membership roadmap:

• Role Description:

Perform the physical delivery (assuming buy/sell ‘title of transfers’ at the PVB-ES Spanish virtual trading point) for own account or on behalf of clients holding physical natural gas registration accounts with which it has signed a natural gas physical settlement agreement.

• Eligible Entities:

- Network Users (‘Sujeitos Habilitados’) at Enagás GTS;

- Entities holding natural gas physical settlement accounts at OMIClear that are associated with a network account (‘cartera de balance’) at the PVB-ES, according to the Spanish regulation.

• Required Information:

To assume the role of Natural Gas Physical Settlement Agent (PSAg) the applicant shall provide the following information to OMIClear:

• Membership roadmap: