BME Exchange’s MEFF launches xRolling® Stocks –the new stock futures contracts

4 May, 2022
  • xRolling Stocks starts with underlying assets corresponding to the 55 most liquid securities on the Spanish Stock Exchange
  • The new xRolling® contract has perpetual expiration, like the FX Futures contracts in MEFF

MEFF, BME Exchange’s derivatives market, has launched new Stock Futures contracts* (xRolling® Stocks) to broaden the current range of assets it offers to members and investors.

xRolling® Stocks are perpetual Futures contracts on stocks listed on the Spanish Stock Exchange. The product starts with the underlying assets corresponding to the 55 most liquid securities traded on the Spanish Stock Exchange (those belonging to the IBEX 35® and the next 20 most liquid securities). These new Futures contracts will be distributed by MEFF members and cleared and settled by BME Clearing, BME's CCP.

One of the outstanding features of xRolling® Stocks is that the price of the derivative product matches that of the underlying asset, which allows investors to trade the product at the same prices of corresponding securities traded on the Spanish Stock Exchange. On the other hand, as it is a perpetual futures contract, there is no maturity, so the position can be held for as long as it is required.

The liquidity will be provided by the market makers, by creating a market in the specifically defined 55 instruments. The product starts with Cecabank as the first Liquidity Provider in xRolling® Stocks registered as a member of MEFF. Cecabank has acted as a market maker in different derivative instruments listed on MEFF for over 10 years.

With the launch of the xRolling® Stocks contracts, MEFF offers investors an instrument that will facilitate risk-hedging for short and long positions on behalf of institutional clients. Similarly, as it only requires that margin be posted, it promotes investment in the Stock Market by retail clients, with the financial support of Liquidity Providers and the security and transparency of a regulated market.

With the launch of xRolling® Stocks, the BME Group expands its family of xRolling® products, which began with xRolling® FX, a perpetual futures contract on 17 currency pairs, which Cecabank also joined as the first market maker for the institutional sector.

“We continue working to widen the range of assets that we offer to participants with innovative and competitive products, for which we deploy our technological infrastructure and distribution capacity through our member entities. In addition, we look forward to the upcoming incorporation of new liquidity providers in xRolling® Stocks”, says Clotilde Salmerón, MEFF General Manager.

You can find more information about xRolling® products on our website.

(*) Product subject to the European Securities and Markets Authority (ESMA) Decision (EU) 2019/679, of 17 April 2019 laying down measures for its marketing, distribution and sale to retail clients.

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