MIBGAS Derivatives and ENMACC are set to offer their clients registration, clearing and settlement of bilateral transactions (OTC) services throughout the natural gas futures curve with delivery at the Spanish Virtual Balance Point.
When registered through the MIBGAS Derivatives platform, these products will be considered to be physically delivered products, not financial products and therefore outside the scope of the MiFID II regulations. Contracts will also be cleared and settled through OMIClear, MIBGAS Derivatives' central clearinghouse.
ENMACC thus joins the list of brokers with which MIBGAS Derivatives has signed agreements for the registration of OTC products. MIBGAS Derivatives is committed to strengthening its range of gas futures products and services, facilitating the development of the natural gas futures market in the Iberian Peninsula and strengthening its leadership within this market in Spain and Portugal.
About MIBGAS Derivatives
MIBGAS Derivatives is the MIBGAS S.A. platform on which the unregulated gas ownership transfer futures are traded as an Organised Market or exchange delivered in the Virtual Balance Point with a time horizon greater than the last day of the following month, as well as LNG products in regasification plant tanks and natural gas in underground storage.
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