MIBGAS is forging ahead on the path to digitalisation and innovation in all of its processes with regular upgrades to its platforms in the organised gas market and in its guarantee management operations.
From now on, electronic guarantees can be submitted as traceable XML files in a totally automatic submission process throughout the cycle, from registration and cancellation, as well as any changes required, and execution. As it is based on a standard format, this model also allows for electronic signature and rapid implementation by financial institutions.
Other improvements are that this eliminates the use of paper in these types of processes and their speed and immediacy, and all users submitting guarantees in XML format will see how they are validated automatically, provided they are correct.
This new feature joins MIBGAS's latest developments on its platform, including improved PDF electronic guarantees (available since January this year), now joined by the new traceable XML file management model.
The other improvements available from this year are:
- Activation of the register of OTC transactions in MIBGAS Derivatives of spot products (D+1 and subsequent). This means that MIBGAS Derivatives now allows users to register OTC transactions with spot, prompt and term products for clearing in OMIClear.
- The new minimum tradable quantity has been defined in TVB and AVB spot products in MIBGAS Derivatives, which went from 10 MWh/d to 1 MWh/d.
Details of all these features are now available in the updated versions of the following documents: