BME launches Spanish post-trade service solution 19 February 2015Madrid Reporter: Stephanie Palmer
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The Spanish exchange group Bolsas y Mercados Españoles (BME) has launched BME Securities Solutions, a set of post-trade, clearing and depository services for financial institutions.
The service comes in response to the changing post-trade systems in Spain, with the reform of the registration, clearing and settlement system due to come in to effect in October, and the upcoming connection to Target2-Securities.
The management platform is designed to help institutions to become members of the Spanish exchange or the CSD, Iberclear. It is compliant with the procedures set out by the existing infrastructures, and offers security and contingency systems.
BME has also developed managing modules for post-trade, clearing and depository, which interact between themselves and the infrastructures. These should make transaction management and monitoring easier and faster, and are already available for testing on a voluntary basis.
The new service will also include a connection to Visual Trader, a routing technology subsidiary of BME, offering access to more than 50 markets and information on assets and securities, as well as on risks arising from transactions pending settlement.
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