MEFF Overview

The Mercado Español de Futuros Financieros, or MEFF, was launched November 1989 and is the official Spanish exchange for financial futures and options. The exchange is a subsidiary of Bolsas y Mercados Españoles (BME Group), which is comprised of the Madrid, Barcelona, Bilbao and Valencia stock exchanges, MF Mercados Financieros, Iberclear and BME Consulting.

MEFF’s primary activity is trading, clearing, and settling of futures and options contracts on equity index IBEX 35 contracts. MEFF acts as both the market and the clearing house for derivative products in Spain. The integration of exchange and clearing house facilitates risk management in real time and simplifies the mark-to-market and settlement-at-expiry procedures.

Matching Engine

MEFF operates its matching engine as part of the MEFF S/MART platform's Central Systems, which is maintained in two separate locations (Madrid and Barcelona) for disaster recovery purposes.

Futures and options contracts are registered on Equity Index, Stocks and National Government Bond contracts. The Clearing House receives trades directly from the MEFF Derivatives Trading Platform, and monitors risk and margin of each Clearing Member.

Matching Algorithms

MEFF matches orders based on a price-time priority matching algorithm. This algorithm applies to all the contracts traded on MEFF.

Connectivity options

The TT® platform supports connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options.