PVB Spain
The virtual balancing point ( PVB) comprises the whole of the Spanish gas transportation system in which gas title transfer products with unrestricted physical delivery are traded.
Gas title transfer and physical delivery products are traded on the PVB:
- Withinday (with delivery on the same trading day).
- Daily D+1
- Daily D+2
- Daily D+3
- Weekend
These products are settled through MIBGAS, which acts as counterparty.
- Balnce of Month (BoM)
- M+1
These products are settled through the OMIClear clearing house acting as counterparty.
Who can trade these products?
To trade spot and prompt products it is necessary to be registered in MIBGAS.
The process to register in MIBGAS is very simple and agents can participate in the market directly or through a representative.
Gas title transfer and physical delivery products are negotiated in the PVB:
- M+2
- M+3
- Q+1
- Q+2
- Q+3
- Q+4
- S+1
- S+2
- S+3
- Y+1
- Y+2
These products are settled through the OMIClear clearing house (code equivalences with OMIClear) which acts as counterparty.
Who can trade these products?
To trade products with delivery beyond M+2 it is necessary to be registered in MIBGAS Derivatives.
The process to register in MIBGAS Derivatives is very simple and, as in MIBGAS, agents may participate in the market directly or through a representatives.