The market segment for the subscription, redemption and transfer of investment funds, BME Fondos, will be available as of July 7th.
The following fund managers are working with BME and to bring some of their funds to the market in the coming weeks: Abante, Alpha Plus, Buy and Hold, Cartesio, Fonditel, Gesconsult, Gesiuris, Gestifonsa, Merchbanc, Metagestión and Mutuactivos.
Another 10 fund managers have also shown their interest in BME Fondos and are already in the previous stage of analysis. We expect them to join this new segment over the coming months.
The segment will be open to all types of investment funds, both national and international, provided they are registered in the CNMV. The funds that will gradually join the platform will be investment funds, classes of funds and newly created compartments and they will have to be represented by book-entry notes.
Investors who wish to subscribe or redeem investment fund shares through this trading segment must channel orders through their financial intermediary and market member. The subscription, redemption and transfer of investment funds will be performed in a new specific trading segment within the MAB market, where there is a similar one for SICAVs.
Trades will be done in euros and both subscription and redemption orders will be made in cash, adapting to the usual practice in the investment fund market, therefore allowing for decimals in the securities.
The final authorisation of several regulations by the CNMV is still pending.