MEFF to extend the trading hours for IBEX 35 Futures starting on May 21st

MEFF to extend the trading hours for IBEX 35 Futures starting on May 21st

06/03/2012

MEFF, BME’s Derivatives Market, is planning to extend the trading hours for IBEX 35 Futures as of May 21. Trading will then take place from 9:00 to 20:00 hrs for these contracts while the current trading hours, from 9:00 to 17:35 hrs, will apply to the rest of Derivatives products traded on this market.

This decision is the answer to the demands of members to allow trading in IBEX 35 Futures after the close of the trading session of the Spanish stock exchange. During this time other international stock exchanges, New York, in particular, remain open and therefore contracts on international benchmarks, among them the IBEX 35, are still traded.

MEFF has made available the necessary technical resources to allow the extension of the trading session under the best connectivity and technological conditions.

By extending the trading hours, the close of certain post-trade activities, such as the allocation of the Daily Account, will take place later, at 20:30, and at 20:55 for the receipt of files.

As is the case with other markets, only one daily settlement will be carried out with the positions at the close of the trading session and using the prices of futures contracts at the close of the spot market as Daily Settlement Prices. The Daily Settlement Price will result from the volume-weighted average of transactions executed on the order book between 17:29 and 17:30 hrs.