Rand Financial Services has become the first US-based FCM member of MEFF, the Spanish financial futures and options exchange and clearing house. Rand was officially recognized as a member at MEFF’s 24 February board meeting.
Rand will be connected to the MEFF Chicago trading hub using the metropolitan Ethernet network connected to separate hosts in Barcelona and Madrid.
“In response to our customers’ requests, Rand is very pleased to be the first US-based FCM with direct access and membership to MEFF,” says Mike Manning, Rand CEO. “As a growing market with strong, global leadership, Rand is excited to offer MEFF’s IBEX 35 futures and options contracts to our customers.”
According to Jose Massa, the MEFF CEO, the approval of Rand as a US based member “confirms the commitment to growing our overseas membership and the establishment of our trading hub in Chicago.”
Rand Financial Services executes and clears futures and options on futures trades on behalf of banks, institutional investors, hedge funds, CTAs and non-clearing FCMs, as well as high net-worth individuals. Founded in 1993 as a wholly owned subsidiary of the Bermuda-based Tewksbury Investment Fund (formerly Trout Trading Fund Ltd), Chicago-based Rand is a member of all major futures exchanges.