Types of participants

• Must sign an admission agreement with OMIClear (Form C34) 
• Has access to a trading platform with which OMIClear has an interconnection agreement, being capable to register trades in OMIClear for its clearing and settlement
• Also called “Non-Clearing Member” (NCM)
• Holds Registration Accounts to register the trades in OMIClear which must be connected to a Clearing Account of a Clearing Member (role assumed by the same entity or by a third party)
• 2 possible categories:​​​​​​

            1. Registration Agents for own account
            2. Registration Agents for Third Parties Account (brokers)

• Must sign an admission agreement with OMIClear (Form C04)  
• Must fulfill on an ongoing basis the capital and risk level requisites defined by OMIClear
• Acts as the buy or sell counterparty of the positions registered in the CCP
• Is responsible to deposit guarantees in OMIClear to cover the required margins, clearing fund or other liabilities before the CCP
• Is responsible for the cash settlements of the registered positions at TARGET2 payment system:
    1. Directly - if the Clearing Member also acts as Financial Settlement Agent  in OMIClear (which requisite is to be a participant of TARGET2 system)
    2. Indirectly - if the Clearing Member signs a financial agreement with a Financial Settlement Agent  of OMIClear
• Holds Clearing Accounts that are connected to Registration Accounts (own or clients’ accounts). Positions and margins are calculated on a clearing account level

• Must sign an admission agreement with OMIClear (Form C05)
• Participates in TARGET2 payment system
• Perform the cash settlements on own account or on behalf of Clearing Members with which it has signed a financial settlement agreement
• Holds Financial Settlement Accounts at OMIClear (one separate account for each Clearing Member for which it renders services)
• Authorizes OMIClear to make automatic debits and credits in its TARGET2 account

• Must sign an admission agreement with OMIClear (Form C06)
• Must be an agent of OMIE Power Spot Market
• Holds Power Physical Delivery Accounts at OMIClear (connected to specific “UCP” accounts at OMIE which are allocated to specific buying/selling units of the spot market)
• Perform the 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
• Authorizes OMIClear to perform notifications of the power net positions under delivery registered in its Power Physical Delivery Account(s) to OMIE Power Spot Market

• Must sign an admission agreement with OMIClear (Form C39)
• Must be an agent of Enagás GTS – network user with a balancing account at the PVB-ES (Spanish Virtual Trading Point)
• Holds Natural Gas Physical Delivery Accounts (linked to the balancing account held by the network user at the PVB-ES
• Provides services for own account or on behalf of clients holding physical Gas Registration Accounts, based on a gas physical settlement agreement.
• Authorizes OMIClear to perform notifications of the net positions in the ‘PVB-ES NG Physical Futures’ contracts under delivery in its Natural Gas Physical Delivery Account(s) to Enagás GTS (‘single sided nomination’)