Bilaterally traded OTC swaps and futures may be registered as pre-arranged trades through MEFF, and they will be immediately sent to the Clearing House BME Clearing.
Both these instruments are agreements between two parties to buy or sell a specific amount of electricity on a future date at a fixed price.
The difference between futures and swaps is the frequency of the variation margin.
The Clearing House provides a mechanism guaranteeing the successful outcome of the trades to both counterparties. The Exchange specifies standard contract features to facilitate trading and Trade Registration.