The Spanish Stock Exchange traded 36.27 bn euros in January

3 February, 2020
  • The number of equity trades increased 20% from December
  • The Fixed Income markets posted a 64% increase in trading from the preceding month
  • Trading in IBEX 35 Derivatives in January grows 11% year-on-year

The Spanish Stock Exchange traded 36.27 billion euros in Equities in January, down 12.4% from the same period in 2019 and 10.8% down on December. The number of trades in January reached 3.36 million, down 5.9% from the same period a year earlier and up 20.2% from December

BME's market share in Spanish equities in January stood at 72.2%. The average spread for the same period was 4.73 basis points at the first price level (15.8% better than the next trading venue) and 6.46 basis points with order book depth of 25,000 euros (38.4% better), according to an independent report by LiquidMetrix, available here: www.bmerv.es/ing/Miembros/MIFID_II.aspx. In all trading venues this data includes both transparent order book (LIT) trading – including auctions – and non-transparent (dark) off-book trading.

As regards Fixed Income the total volume traded in January was 23.93 billion euros, soaring 63.7% from December and down 28.4% from January 2019. New issues grew 49% from the preceding month to 42.45 billion euros. The outstanding balance posted by Spanish securities registered with BME’s Fixed Income markets increased by 0.5% from the close of 2019, reaching 1.56 trillion euros.

The Financial Derivatives market had a positive start to the year, with growth in IBEX 35 Derivatives of 10.7% from January 2019. The trading volume in IBEX 35 Options increased 51.8% while that in Stock Options grew 64.1%, both year on year.

The volume traded in IBEX 35 Futures increased 1.3% in January compared to December, and in Mini IBEX 35 Futures it grew by 15.6%. The open interest of IBEX 35 Futures, Mini Ibex 35 Futures and IBEX 35 Options grew 2.7%, 35.2% and 10.6%, respectively. As for Stock Options it increased by 14.2%.

Trading by business areas and assets

 

January

2020

%Change

Jan20/Dec19

%Change

Jan20/Jan19

Equities(1)

     

-       Equities

36,279

-10.8%

-12.4%

Number of trades

3,357

20.2%

-5.9%

-       Warrants

25

13.4%

-29.1%

Number of trades

5.9

-2.5%

-6.8%

-       ETFs

125

-31.4%

-38.5%

Number of trades

4.7

-13.9%

-15.1%

Fixed Income

     

Traded Volume(2)

23,933

63.7%

-28.4%

New Issues

42,452

49.9%

-32.5%

Outstanding Balance

1,562,473

0.5%

0.6%

Financial derivatives(3)

     

-       Futures:      IBEX 35

507

1.3%

1.7%

                   Mini IBEX 35

111

15.6%

-5.6%

                   Shares

80

-97.1%

-95.3%

-       Options:   IBEX 35

275

-44.8%

51.8%

                                Shares

2,144

-25.6%

64.1%

(1) By asset type in million euros; number of trades in thousands

(2) Since implementation of MiFID II only trading on electronic platforms included

(3) Thousands of contracts

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