MEFF allows registration of pre-arranged trades (trade registration) in swaps and futures as follows:
In the first case, the member will receive User ID code and password to the portal, and the following situations may occur:
In all cases, once the trade has been accepted by the counterparty members, there will be a verification that the trade satisfies MEFF´s and BME Clearing´s price and volume filters and afterwards it will sent to BME Clearing so it can be registered. If the trade does satisfy the filters, a check will be carried out to see if the member has sufficient margin to register the trade. Trades may be confirmed through the webportal, by voice or by email.
For more information about the registration of trades see the circulars:
MEFF: "Pre-arranged Trades or Block Trades"
BME Clearing: "Transactions directly agreed between Energy Segment Members and Brokered Transactions"
Members are also able to sign give-up agreements where they authorize a/several broker/s to confirm their deals.
If an issue occurs, the message "TRADING" will change to "MARKET ISSUE" to reflect that a market event has occurred. By clicking on the Issue of the published alert it will be possible to access the information and intraday updates associated with this incident, which will be published immediately.
Note: BME will use its discretion to assign the severity of an incident