OMIP definition
Examples of OMIP in a sentence
The Market Participant authorizes OMIP to include the monthly amount established in the first paragraph of this clause jointly with other fees that are due to OMIP in the financial settlement carried out by OMIClear, C.C., S.A..
OMIP will act as the managing entity of the forward market and ▇▇▇▇ as the managing entity of the day market, following the previous compliance with the rules of the Party in which territory the head-office is located.
In the case the Market Participants ceases his membership at OMIP, this Agreement will ceaseimmediately.
Until the creation of OMI, there will be a transitory period during which OMIP and ▇▇▇▇ are considered as entities of the electric sector.
The Parties shall promote the creation of an Iberian Market Operator (OMI) which will assume the role as the Portuguese division of the Iberian Market Operator (OMIP) and of the Spanish division of the Iberian Market Operator (▇▇▇▇).
OMIClear S.E. shall submit to a designated, by the market participant, RRM the contracts of the market participant resulting from its intervention in the markets managed by OMIP.
In the case the Market Participants ceases his membership at OMIP, this Agreement will terminate immediately.
For the purposes of this Agreement “Affiliate” means, any subsidiary of OMIClear, C.C., S.A., subsidiary of a subsidiary of OMIClear, C.C., S.A. or OMIP, a holding company of OMIClear, C.C., S.A. of OMIP or any subsidiary of such holding company.
According to the EU Regulation, the reported data shall comprise matched and unmatched orders executed on the OMIP platform (hereinafter the “Data”).
Subject to and in accordance with the terms and conditions of this agreement, the Market Participant has requested that OMIClear S.E. assists the Market Participant by providing data in order to the Market Participant meet its reporting obligations included in Regulation (EU) No. 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency (REMIT), regarding contracts executed at OMIP.