MEFF, the Spanish Futures and Options exchange, has added four new participants, bringing its total membership to 101. The companies that have joined as trading members are BNP Paribas Arbitrage, Banco Portugus de Investimento, Marquette Partners UK, and TIMBER HILL Europe.
MEFF has set up a double communications hub in London, and in August it will complete an identical process in Chicago. The new infrastructure will enable it to incorporate new participants in both cities more rapidly.
MEFF expects to add another nine new members this year.
MEFF offers futures and options on interest rates and stock exchange indices on its electronic trading system (S/MART), and futures and options on individual shares.
In 2003 MEFF reached an agreement with the Mexican derivatives exchange, MEXDER, on the creation of a local options market using MEFF technology. This is the same technology used since 1998 in the electronic trading platform of the Hannover derivatives exchange (Germany).
On 1 January this year, the Exchange authorised a new membership category called Proprietary Trading Members, whose activity it hopes will increase the depth and liquidity of its markets.
MEFF, AIAF and SENAF are all part of the mF Group, which together with the Spanish Stock Exchanges and IBERCLEAR make up the Spanish Exchanges Group (BOLSAS Y MERCADOS ESPAOLES).