BME Spanish Exchanges
www.bolsasymercados.es
Tel : 34 91 709 5000
Fax : 34 91 531 2290
Representatives
Chairman & CEO : Mr. Antonio J. Zoido
Director of International Affairs : Mr. Ramon Adarraga
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Types of Securities Traded |
Name of Trading Systems (cash and derivatives) |
Trading Hours |
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Madrid, Barcelona, Valencia and Bilbao |
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Shares Floor Shares
ETFs Warrants Certificates Fixed Income Public Debt Investment Funds MAB Inline/Bonus Warrants Turbo Warrants |
SIBE (electronic) Barcelona (electronic), Bilbao, Madrid (electronic), Valencia
SIBE (electronic) SIBE (electronic) SIBE (electronic) SIBE (electronic) SIBE (electronic), AIAF (electronic) SIBE (electronic) SIBE (electronic) SIBE (electronic) SIBE (electronic) |
8:30 – 17:35 8:30 – 16:00
8:30 – 17:35 8:30 – 16:30 8:30 – 16:30 8:30 – 16:30 8:30 – 16:30
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AIAF |
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Corporate Debt Commercial Paper |
AIAF AIAF |
No fixed trading hours |
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Public Debt |
AIAF |
8:30 -17:15 |
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MEFF |
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Derivatives |
MEFF/S-MART |
It depends on type of the contract |
Supervisory Body
CNMV
Banco de España (Public Debt)
Name of Clearing & Settlement Organization
Iberclear (Settlement)
MEFFCLEAR (Clearing)
Settlement Cycle
MEFF - Daily settlements are made using a standard multilateral settlement in the bank of Spain
TARGET-2 system
T + 3
T + 1 / T + 5
T + 0
T + 1
Name of Central Securities Depository
Iberclear
Commissions on Transactions levied by Exchange
Available at:
http://www.bolsamadrid.es/esp/contenido.asp?menu=0&enlace=/esp/bolsamadrid/mvalores/canones.htm
Taxes on Dividends, Interests
19% withholdings tax rate from listed stocks
0% long term gains on listed stocks
2011 Share ownership thresholds (%)
5%, 10%, 15%...
Short selling (Yes / No)
Yes
Short selling conditions (if any)
In August 11th, 2011 the CNMV agreed, as a temporary preventive measure, to ban any legal or natural person from entering into transactions which might constitute or increase a net short position on Spanish financial stocks. Positions arising from market making activities will be exempted from this ban.
On September 28th, 2011 the CNMV agreed to extend the measure sine die and informed that it will remain in place for the minimum time needed.