The Member that has intention to allocate trades at an Average Price, will be able to perform this action during any session, from any position account, selecting the trades to be converted, for the same contract, same side (long or short), and same register and execution date that must also match the original trade register date.
This procedure is available for IBEX 35, Mini IBEX 35 and Micro IBEX 35 future contracts.
Once performed Average Price trade, trade type J, original trades will be closed by using opposite value 0 type trades. In case of error, BME Clearing will allow its correction during the session when the Average Price trade has been created, previously requesting Member’s explanation. BME Clearing Operations Department will be entering an X trade type, in order to cancel the incorrect J trade, and will be getting back the original ones, by using an N trade type, so that the Member can request again the Average Price trade properly.
This procedure will have an associated fee, defined in the Financial Derivatives Fee Circular.
In order to help Members during its implementation period for this Average Price functionality, (at least during the 6 following months after effective date of this Circular C-DF-19/20 of 4 november), while its system is not ready to handle this automatized feature, they will be allowed (until 4 may of 2021) to keep the requesting this procedure in the same terms that they were using it:
✓ It wi'll be used for managing the roll-overs during the expiry week, for IBEX 35, Mini IBEX 35 and Micro IBEX 35 future contracts.
✓ The merge will be carried out by BME Clearing Operations Department, after receiving Member’s request, for those trades allocated in 0PMC@ (long) and OPMV@ (short) position accounts.
✓ J Average Price trade will be allocated to the daily account, and the original trades will be closed by using a J trade type.
✓ The correction of errors will be also possible for this type of requests.