How significant are the Catalan elections to the Ibex 35?

Mar 12, 2016
I noticed no Indices broker has cautioned against potential volatility because of the Catalan elections on 21st December (like they often do for other elections).

Neither have there been any margin/leverage changes to the Ibex 35 index imposed by trading brokers.

Does this indicate that the market impact of the elections is not likely to be very significant?

I thought it would have had huge implications for the Ibex 35 – but given the muted response from the trading world – maybe not.

Any thoughts are appreciated.