MEFF, the Spanish Derivatives Market, has introduced BME FX, a web-based platform meant for banking institutions and various other financial service providers. It will aim to help with hedging against the currency risk with MEFF’s xRolling FX futures contracts.
BME FX consists of a tech solution that will enable banking institutions and financial services platforms to streamline their FX derivatives trading for professional clients and corporates in a straightforward and affordable way, providing the possibility of launching white-label terminals among their customers to hedge currency risk with xRolling® FX
BME introduced xRolling® FX back in 2019, an innovative futures contract on the 17 most-actively traded currency pairs, with extended trading hours (00:00 to 23:00), distributed by MEFF members and settled/cleared in BME Clearing, BME’s Central Counterparty. xRolling® FX futures contracts compete in terms of overall flexibility and total cost with FX Forwards and standard futures.
With the introduction of the BME FX platform, the BME Group remains focused on expanding in the FX market, an industry that’s undergoing extensive transformation due to the rising demand for more transparency in FX trading by regulatory authorities.
Bolsas y Mercados Españoles (BME), a SIX Group company, is “the operator of all securities markets and financial systems in Spain.” Since its inception, the Group has been “a benchmark in the sector in terms of solvency, efficiency, and profitability.”
BME offers a wide range of products, services and trading systems “based on stable and advanced proprietary technology.” It also offers access to global markets for issuers, intermediaries, and investors in Spain and globally, with customers in Europe, America and Africa. It provides the following products and services: Equities, Fixed Income, Derivatives, Clearing and Settlement and Market Data and Value-Added Services.
MEFF is BME’s Derivatives Exchange and since last year, it is part of Switzerland’s SIX Group.
MEFF – as the reference Exchange for stock options on Spanish underlyings – has “a long tradition of financial culture and best practice, constantly investing in innovation and development.” MEFF has been the Spanish market for derivative products “since 1989 and is widely recognized both, nationally and internationally, for being one of the main European derivatives markets.”