To help boost liquidity in the Spanish markets, enmacc, OMIP and OMIClear are excited to share their latest partnership. This partnership will allow enmacc members to give up their trades for clearing to OMIP/OMIClear when trading on the enmacc platform.
Aiming to extend trading options in the Iberian power and natural gas markets, OMIP, OMIClear and enmacc have established a partnership that allows enmacc customers the opportunity to extend their trading options and therefore enhance liquidity.
enmacc is now able to register trades for clearing on behalf of the traders – when the trade is complete, enmacc will register the trade with OMIP for clearing via OMIClear. At all times, traders will be updated about the clearing status of the deal on the platform.
Traders in Spain can negotiate bilateral trades and give up the trade for clearing to OMIP, without requiring open credit lines or framework contracts from counterparties. Traders’ reach of potential counterparties will be taken to the next level, allowing access to even more competitive prices. With the optionality to stay anonymous throughout the trading process. To access this on enmacc, traders just need to be members of OMIP.
With this partnership, OMIP and OMIClear aim to expand their services and market reach, which will further enhance development of the electricity and gas market in Spain.
Jorge Simão, COO at OMIP: “OMIP and OMIClear are delighted to welcome enmacc as a member, which will allow enmacc to extend their offering to members for the registration, clearing and settlement services of bilateral trades (OTC) in the entire electricity futures as well as in the gas market.”
Jens Hartmann, CEO at enmacc: “We listened to our customers and understood that clearing plays a very important role in the Spanish markets. This is why we have added OMIP/OMIClear to our platform and will be following suit with other exchanges in Spain and in other regions. We share the ambition of OMIP to bring more liquidity to the Spanish market for gas and power trading.”
Download more information to understand the process.