PRESS RELEASE

MEFF launches FX Futures

  • BME breaks into a new asset class

MEFF, BME’s Derivatives Market, broadens its product range for members and investors with the launch of the new FX Futures contracts called FX Rolling Spot Future (xRolling FX*), scheduled for 21 June.

These contracts are perpetual Futures and will be operational for 17 currency pairs with extended market hours (from 00:00 to 23:00 hrs). The xRolling FX will be distributed by MEFF members and cleared and settled by BME Clearing, BME’s Central Counterparty (CCP).

By trading on MEFF several additional protection measures are added: price transparency, multilateral trading, exclusive distribution through market members and margins managed by BME Clearing.

xRolling FX is a product for institutional investors carrying out currency risk-hedging since the product is not subject to the quarterly rollover of traditional futures, is settled in euros and through a CCP.

"With this launch, MEFF aims to offer investors the possibility of trading in FX through a regulated, exchange-traded instrument, with the security and transparency that this implies", points out Clotilde Salmerón, General Manager of MEFF.

BME is working on several initiatives to increase its presence in the FX sector with a view to expanding the range of assets it offers to its participants, adding value to its IT and member-based distribution infrastructures and offering an innovative and competitive service.

(*) XRolling FX contracts are subject to (EU) Decision 2019/6789 of the European Securities and Markets Authority (ESMA) of 17 April 2019, which establishes measures that affect its commercialisation, distribution and sale to retail customers.