OMIClear joins Interbolsa

NYSE Euronext and OMIClear have announced that the Iberian Energy Clearing House is now an Interbolsa Special Participant.

Interbolsa was the first European CSD chosen by OMIClear to improve its collateral management systems. In this way, the management of the Iberian Energy Clearing House is continuing with the ongoing adaptation to the business model recommended by the European Market Infrastructure Regulation (EMIR), which envisages links to a number of important European CSDs.

This link has allowed Interbolsa to increase the number of Special Participant links and OMIClear to enhance its operations in terms of security, efficiency and settlement procedures.

INTERBOLSA ­ – Sociedade Gestora de Sistemas de Liquidação e de Sistemas Centralizados de Valores Mobiliários, S.A. is an NYSE Euronext Group company, managing Centralised Securities Systems   and Securities Settlement Systems. It also handles the functions of National Numbering Agency (Agência Nacional de Codificação), the entity which allocates ISIN and CFI code.

OMIClear manages the central Iberian counterparty and settlement system, since July 2006, based on state-of-the-art systems. OMIClear clears exchange trades coming from OMIP as well as OTC deals for several types of instruments: futures, swap and forward power trades, for Spain and Portugal, covering all sets of maturities, baseload or peakload, with financial or physical delivery.

Along with 14 clearing members, 7 financial settlement agents and 17 physical settlement agents from 6 European countries and the USA, the company also provides a broad set of registration, clearing and settlement services for the Iberian wholesale and retail energy market, namely for Virtual Power Plants programs, TSO collateral management and natural gas customer switching management.

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