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Press Release | 2 Jul 2019

OMIClear beats its record of registration of natural gas contracts in June

Secção: 

OMIClear, the Iberian Market Operator (OMI) Clearinghouse, beat its record of natural gas contracts registration in June reaching 1,734.55 GWh. This figure demonstrates the continuous development of the clearing service (registration, clearing and settlement) of natural gas contracts in PVB, by which natural gas futures coming from the trading platform of MIBGAS Derivatives (from Month+2 to Year+2) and from MIBGAS (Balance of the Month and Month+1) can be registered.

Likewise, within the framework of the agreement between MIBGAS Derivatives and OMIClear, bilateral OTC contracts can also be registered in MIBGAS Derivatives for automatic clearing by the clearinghouse.

In 2019, the total registered volume of natural gas contracts in OMIClear is 5,932.7 GWh, which represents an increase of 99.4% with respect to the volume registered throughout the year 2018.

During the last three months, there has been a considerable increase in the trading of natural gas futures in MIBGAS Derivatives and registered in OMIClear, which also reached historical figures in cleared products. With the results in June, OMIClear and MIBGAS Derivatives show three consecutive months of volume records.

In June, the trading in MIBGAS Derivatives has registered an increase of 27.47% with respect to May, which, in turn, has grown by 29.50% over that of April. Regarding the traded products, the quarter ahead Q+1 contract, with a total of 593.40 GWh, and the year ahead Y+1 contract, with 150.06 GWh, have stood out.

Likewise, both companies have agreements with brokers (Arraco, CIMD, ICAP and Tullet-Prebon) to offer their clients the service of registration, clearing and settlement of bilateral transactions (OTC) throughout the natural gas futures curve, which, in June, represented a volume of 74.10 GWh.