BMEGroup-owned Spanish electronic exchange, Meff, has rolled out clearing of over-the-counter (OTC) energy futures, FinancialTimes reports. The contracts will be settled and managed on Meff’s existing central counterparty (CCP) via a new energy segment, Meff Power, adds Risk.net.
The OTC energy clearing service would be split roughly a third each between companies such as Iberdrola and Endesa of Spain, Portugal’s Galp, Germany’s Eon and France’s EDF. Meff also runs a clearing house separately from Iberclear, the post-trade operation of BME.
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