Axpo Iberia, subsidiary of the swiss energy group Axpo, has been appointed by MIBGAS Derivatives as market maker at the organised gas market for future products managed by MIBGAS Derivatives. The character of market maker is usual on European markets and its aim is to develop liquidity with the continuous presence of bid and ask offers.

Currently, future natural gas products with monthly (an expiration over month ahead), quarterly, seasonally and yearly physical delivery are traded at MIBGAS Derivatives, completing the curve of products and prices. Furthermore, OMIClear will be the Clearing house for the trades executed at MIBGAS Derivatives Futures.

The selection of Axpo Iberia as a market maker at MIBGAS Derivatives represents a further step for the establishment of a more mature and competitive market, through the development of natural gas price signals in every delivery period. The implementation of a future natural gas market, as managed by MIBGAS Derivatives, was one of the main requests of the agents, traders and partnerships. Likewise, it was also one of the Comisión Nacional de los Mercados y la Competencia (CNMC) recommendations to promote and develop liquidity at the Iberian gas market.

Products traded at MIBGAS Derivatives will complete the actual product portfolio offered at MIBGAS, distinguishing between actual regulated products (spot and prompt market) and future products. Order ETU/1977/2016, of December 23th, authorises MIBGAS S.A. for trading, at the organised gas market, title transfer gas products delivered on the Virtual Balancing Point of the system with a delivery period over the last day of next month, as LNG products at the tanks of the regasification plants and natural gas at the underground storages.

Axpo Iberia is a gas market benchmark at both national and international levels, due to its extensive experience and expertise, allowing them to facilitate market prices for the complete curve. The international structure of Axpo group enables them to contribute with an interesting offer in gas supply with competitive and advantageous conditions, thanks to its strong deployment in Europe and its great experience in the gas market. Since its implementations in the Iberian Peninsula, 16 years ago, the swiss subsidiary of the energy group Axpo, has shown its commitment to create a more competitive, flexible and transparent energy market.

OMIClear is a Central Counterparty authorised under EMIR European regulation to offer clearing and settlement services for future contracts of power and natural gas. Clearing services for natural gas contracts provided by OMIClear have recently received the necessary regulatory authorisation at European level, which allows OMIClear to make tittle transfer notifications at the PVB for delivery positions to the Technical System Manager.