MIBGAS Derivatives and OMIClear, within the terms of their cooperation agreement for the gas futures market, will start today, January 9th, the registration, clearing and settlement service for bilateral trades (OTC) in the entire natural gas futures curve with delivery in the Spanish Virtual Balance Point (PVB).
The OTC trades may be registered thought brokers or directly between market participants, and their clearing and settlement will be made by OMIClear. These trades, like those traded through the exchange, will be considered as non-financial products with physical delivery, therefore they will be out of the scope of MiFID II regulation.
MIBGAS Derivatives and OMIClear expand their services and gas futures products, which will allow a further development of the natural gas market in the Iberian Peninsula, and will enforce its leading position in the Iberian Peninsula natural gas sector.