BME Clearing clears first repo trades 19 December 2018Madrid Reporter: Maddie Saghir
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BME Clearing has cleared its first repo trades executed on the anonymous dealer-to-dealer trading platform BrokerTec, owned by NEX Markets.
The clearing of these transactions follows the announcement of an agreement last July between BME clearing and NEX Markets.
This involved the provision by the BME Clearing of repo clearing services to participants connected to BrokerTec.
As an authorised European Securitas Markets Authority central clearing counterparty (CCP), BME Clearing provides clearing services in Spain.
It provides equities, public debt repos, financial derivatives, energy derivatives and interest rate swaps.
Ignacio Solloa, managing director of BME Clearing, said: 鈥淏y clearing the first transactions on BrokerTec BME Clearing has brought a wider choice for clients operating on this platform.鈥�
Solloa added: 鈥淲e are delighted that BrokerTec offers our CCP services to their clients, which will benefit from the efficiency, transparency and reliability of BME Clearing.鈥�
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