ABN AMRO Clearing will offer clearing and settlement of trades at MEFFPower, cleared by BME Clearing. The Spanish Power derivatives market is one of the top five markets in Europe and has experienced great growth in the past decade. The maturities offered by ABN AMRO Clearing as swaps and futures will be: annual, quarter, months, weeks, week-ends and days. They can be either base load or peak load.
Andrej Bolkovic, Global Head of Products at ABN AMRO Clearing, said: ‘We are continuously expanding our products and services for our clients, helping them be globally more competitive’. Emile Goulmy, Product Manager Energy, added: ‘We look forward to providing our market participants the ability to trade this market and to clear for them. The expansion into MEFFPower is driven by client requests, and will help them growing their business and (global) reach’.
‘Our aim is to continue increasing the liquidity in the Spanish Power market, allowing more entities to cross trades with others with whom they may not have credit lines. Hence having ABN AMRO Clearing on board is an important step as it will open up the service to their clients’ said Sara Colmenar, Sales Manager at MEFFPower.
About ABN AMRO Clearing
ABN AMRO Clearing is one of the world’s leading providers of clearing and financing services for listed derivatives and cash securities, OTC products, warrants, commodities and FX. With 11 offices globally employing more than 800 staff, ABN AMRO Clearing services clients on 160+ exchanges, MTFs, dark pools and FX liquidity centres and consistently ranks as a top 3 clearer in most time zones with a 10% global market share. ABN AMRO Clearing offers an integrated approach to global transaction processing, financial logistics and risk management and processes over 10 million trades per day.
About MEFFPower/BME Clearing
MEFFPower is the trade registration service offered by MEFF (the exchange) and BME Clearing (the CCP), both part of the listed BME Group. Pre-arranged trades (brokered) reach MEFF via Trayport and then they are sent for clearing to the CCP. MEFFPower provides access to major market players in the Spanish power derivatives market, with a growing number of members and participants totaling at present 87 entities (including utilities, investment banks, HF, etc). The CCP mitigates credit risk with a counterparty. BME Clearing and sister company MEFF have been operating reliably as Exchange and CCP for financial derivatives since 1989, and in the Energy sector since 2006 knowing all major players in this market.