According to Icap, the service will compliment the exchange trading of derivatives contracts in the Spanish and Portuguese power markets, currently hosted by energy exchange Omip. OTC trades will clear through Omip's OMIClear platform.
Icap currently offers similar services in Nordpool, Germany, France and the Czech Republic.
Omip and OMIClear board member Paulo Sena Esteves says Icap's service will help encourage the growth of liquidity. "Our understanding is that the market needs to grow and has