BME

Bolsas y Mercados Españoles (BME Group) operates stock markets and trading systems in Spain. Through its seven business units and more than 20 subsidiaries, BME Group provides access to a range of products and services, including equities, public and private debt, derivatives, clearing and settlement services, information and financial technology systems. BME has been a listed company since July of 2006.

Subsidiaries of the exchange group include the stock exchanges of Barcelona, Bilbao, Madrid and Valencia, Sociedad de Bolsas, Mercado Español de Futuros Financieros (MEFF) and Iberclear, among numerous others.

Electronic trading in Spain is linked through the Spanish Stock Market Interconnection System (SIBE; Sistema de Interconexión Bursátil Español). This multilateral and automated electronic trading system executes trades according to price and time priority, and draws the highest trading volume in the Spanish marketplace. Technical management of the SIBE is performed by Sociedad de Bolsas.

Iberclear, Spain's central depository of securities, manages the accounting records, settlement and clearing of securities listed for trading in the Spanish markets.