PRESS RELEASE

BME to launch its funds trading segment on 27 June

BME today announced that its trading segment dedicated to the subscription, redemption and transfer of investment funds - to be called BME Fondos - will start on June 27.

 

This segment is open to all types of investment funds, both national and international provided they are registered in CNMV. Investment funds or classes of funds may be admitted to this segment. For this purpose they will have to be represented by means of annotations.

 

Investors who wish to subscribe or redeem Investment Funds through the trading segment must channel orders through their financial intermediary, market member. The subscription, redemption and transfer of orders will be performed in a new trading segment within the MAB market, where there is a similar segment, for SICAVs.

 

Trades will be done in euros and both subscription and redemption orders will be made in cash, thus adapting to the usual practice in the investment fund market, therefore allowing for decimals in the shares.

 

The following types of orders are supported:

 

• Subscription order: purchase of participations in cash, expressed with a maximum of six integers and six decimal places.

• Redemption order: sale of participations, if it is a partial refund it will be expressed in cash and if it is a total reimbursement it will be expressed in participations.

• Switch order: transfers are allowed on funds admitted on the segment

• Mixed switch orders: transfers will be admitted even though only one of the investment funds is admitted to the BME Fondos segment.

 

The schedule for the entry of orders will be between 9:00 am and 16:00 pm on business days. Once entered into the market, the orders will remain pending until the management company reports the net asset value according to the funds “communication window”, at which point the transactions will be crossed at the price which was communicated.

 

The members of the market and investment fund managers have been ready for testing since November.

 

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