Bolsas y Mercados Espanoles

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Bolsas y Mercados Españoles
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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

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 is the largest single shareholder, while the Spanish government retains a golden share.

Structure and Regulation

The exchange is supervised by the Comisión Nacional del Mercado de Valores (CNMV).

Products and Services

References

  1. 2007 Highlights. WFE.
  2. BME on track to launch equities clearing house in 2015. Financial News.

External Links