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Press Release | 20 Feb 2018

First OTC Registration - Natural Gas Futures Contract


The first transaction in natural gas futures contracts was registered on the Iberian Derivatives Exchange (OMIP), on 16 February 2018, for clearing via the Iberian Energy Clearinghouse (OMIClear). The trade consisted in 250 contracts (with a volume of 91 GWh) of the Cal-2019 natural gas (PVB-ES NG physical futures) contract. The transaction was concluded by Axpo Iberia, S.L.U. and Feníe Energía, S.A. via the broker CIMD - Corretaje e Informacíon Monetaria y de Divisas, S. V., S.A.

OMIP recently expanded its services and products portfolio to the natural gas market by launching the registration of bilateral transactions of futures contracts with physical delivery at the Spanish virtual trading point PVB-ES. OMIClear acts a Central Counterparty for the registered being responsible for the clearing and settlement (physical and financial) processes.

“The launch of natural gas products constitutes a major development in OMIP services offering to our clients, which is based on a well proven and recognized market infrastructure, for their activity in this new segment. Our customers can benefit from the efficient processes, systems and rules currently in place, easing the immediate access to this service for our current members and establishing an agile and efficient on boarding process to new members”, said Jorge Simão, Chief Operating Officer of OMIP. “The current OMIP and OMIClear members can benefit from these new services of the natural gas market making use of their current membership status without any additional cost”.

“We expect OMIClear recent expansion of its clearing services to natural gas futures contracts will help to foster liquidity and trading opportunities in the Spanish PVB-ES natural gas markets both for Iberian and other European and international players” added Pablo Villaplana, Chief Operating Officer of OMIClear.

OMIP product portfolio includes power derivatives contracts with underlyings for Spain, Portugal, France and Germany, with several load profiles namely for solar generation, and natural gas derivatives contracts with title transfer in the Spanish Virtual Balancing Point (PVB-ES), comprising maturities ranging from the day-ahead up to 2 years. OMIClear provides clearing and settlement services for all the products available for trading and registration in OMIP.

OMIClear shall offer clearing services for natural gas contracts traded at MIBGAS Derivatives in the near future, pending final regulatory approval.