Segments

Description

BME CLEARING Financial Derivatives is the Segment through which the Central Counterparty (CCP) of BME offers clearing and settlement services for the contracts listed and traded on MEFF for all its activity of Equity and FX Derivatives.

BME CLEARING has a wide offer of Account Structure and post-trading functionalities available to its Members and Clients that enables its participants to comply with EMIR and MiFID II European regulations.

The list of Financial Derivatives contracts admitted to clearing and settlement in BME CLEARING is as follows:

IBEX 35® Futures

The underlying asset is the IBEX 35® Index. The IBEX 35® Index is a capitalization-weighted Index comprising the 35 most liquid Spanish stocks traded in the Continuous Market. The multiplier is 10 Euros.

Futures IBEX Sectorials

The underlying asset is the IBEX Bank 35 Index and the IBEX Energy 35 Index.

Mini IBEX 35® Futures

The underlying asset is the IBEX 35® Index. The multiplier is 1 Euro.

Futures Micro IBEX 35®

The underlying asset is the IBEX 35® Index. The multiplier is 0.1 Euro.

Futures on 10 Year Government Bond

Notional Government Bond with a 6% annual coupon and a maturity of 10 years. The contract face value is €100.000.

Futures on Spanish Stocks

The underlying asset are shares of the companies specified by Circular. The contract size is 100 shares per contract. Due to corporate actions, some stock futures contracts temporally have a contract size different from the standard on some expirations.

Futures on IBEX 35® Div Impact

The underlying asset is the IBEX 35® DIV IMPACT. The IBEX 35® DIV IMPACT is an Index which reflects the accumulated amount of the dividends, in index points, paid by the constituent companies of the IBEX 35® Index during a specified period.

The contract period, for purposes of dividends declared and paid, will be one year, starting next day following the third Friday of December, and ending the next year on the third Friday of December. The multiplier is 10 Euros.

Stock Dividend Futures

The underlying asset is the sum of a company ordinary dividends during at least three annual expirations. The contract size are the dividends corresponding to 1,000 shares (except after adjustments pursuant to the General Conditions).

Stock Dividend Futures Plus

The underlying asset is the sum of a company ordinary dividends during a specific period of time described in the Expirations paragraph. The contract size are the dividends corresponding to 25,000 shares (except after adjustments pursuant to the General Conditions).

Options on IBEX 35®

The underlying asset is one Mini IBEX 35® Futures contract of the same expiration.  The contract size is the Mini IBEX 35® Future multiplied by 1 Euro.

American Style Stock Options

The underlying asset are shares of the companies specified by Circular. The contract size are 100 shares per contract. Therefore, a Stock Option contract with a Premium of 1.27 Euros will have a price of: 100 x 1.27 = 127 Euros. Due to corporate actions, some stock options contracts temporally have on some expirations a contract size different from the standard. The style of options is American (may be exercised on any Business Day until the Expiration date).

European Style Stock Options

The underlying asset are shares of the companies specified by Circular. The contract size are 100 shares per contract. Therefore, a Stock Option contract with a Premium of 1.27 Euros will have a price of: 100 x 1.27 = 127 Euros. Due to corporate actions, some stock options contracts temporally have on some expirations a contract size different from the standard. The style of option is European (it may be exercised only on the Expiration Date).

xRolling® FX

The xRolling® FX contracts are "perpetual" Futures on 17 currency pairs, with extended market hours (from 00:00 to 23:00). They can be traded from Monday to Friday. Unlike Futures with standard maturities, the xRolling® FX has daily roll-over of positions at closing, which facilitates that the closing price of the xRolling® FX is the same as that of the Spot. The underlying will not be delivered but all the cash settlements will be made in Euros.

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