Bolsas y Mercados Espanoles
| Bolsas y Mercados Españoles | |
| |
| Headquarters | Madrid, Spain |
|---|---|
| Key People | Antonio Zoido, chairman, Javier Hernani Burzaco, CEO |
| Products | Cash equities and derivatives |
| Website | http://www.bolsasymercados.es/ |
Bolsas y Mercados Españoles (BME) is the parent of the Madrid, Barcelona, Bilbao and Valencia stock exchanges, the MEFF derivatives platform and clearing operations for Spain's capital markets system.
BME, which went public in 2006, was the world’s eighth largest cash-equities platform in 2007.[1]
In October 2013 it was reported that BME plans to establish its first equities clearing house by 2015, as part of ongoing reforms to Spain’s post-trade infrastructure. The launch would mean that Spanish equity trades are processed through a dedicated clearing house, rather than the central securities depository Iberclear, which is owned by BME. [2]
History and Ownership[edit]
The BME floated via an initial public offering on June 13, 2006, which the controlling stakes held by a group of domestic and French financial groups, as well as the Bank of Spain, whose 9.6 percent stake fell to 5.3 percent, though it retains a golden share giving it a veto over future ownership changes. The current structure, which includes a 33 percent free float, is headed by Santander (8.6 percent), the central bank and BBVA (5.4 percent).
The exchange listed in June 2006, and has a free float of 33 per cent. Banco Santander was the largest single shareholder, while the Spanish government retains a golden share.
Swiss exchange operator SIX Group acqquired the Spanish exchange operator in June 2020, winning out over exchange group Euronext. Announcing the acquisition, SIX said the combination of BME and SIX would "create a more diversified group with a strong presence across Europe," becoming the 3rd largest European financial market infrastructure group and the 10th largest globally by revenue. [3]
Structure and Regulation[edit]
The exchange is supervised by the Comisión Nacional del Mercado de Valores (CNMV).
Products and Services[edit]
In October 2020, BME unveiled a new data platform to boost its transaction cost analysis and best execution service. Launched through its subsidiary BME Inntech, the big data platform was designed to improve processes around best execution reporting and TCA for broker, broker-dealer and fund manager clients to comply with MiFID II requirements.[4]
References[edit]
- ↑ 2007 Highlights. WFE.
- ↑ BME on track to launch equities clearing house in 2015. Financial News.
- ↑ SIX Successfully Completes Acquisition of Controlling Stake in BME. Six Group.
- ↑ BME Launches Big Data Platform for TCA and Best Execution Platform. The TRADE.