Mercado Español de Futuros Financieros (MEFF) offers trading and central counterparty clearing services for options and futures on individual stocks and the IBEX 35®, a capitalization-weighted index made up of 35 of the most liquid Spanish stocks traded in the continuous market. MEFF also offers OTC energy swaps through MEFFPower and fixed income securities via MEFFREPO.
MEFF operates a proprietary technology system designed to facilitate all aspects of the full lifecycle of the derivatives trade, including orders, cross operations, assignments and transfers, exercise instructions, filters, risk control, daily settlement and more.
The MEFF system is housed in the Central System, which is fully replicated at two locations; one in Madrid and the other in Barcelona. One location is active while the other location serves as a back-up system on standby to assume the role of active system as needed. Access points, the computers and devices to which members connect to access the processing systems, are linked to MEFF's two central system locations and duplicated in several cities.