PRESS RELEASE

The Stock Market trades 29.3 billion euros in May (-27%) on 4.24 million trades (+39%)

MONTHLY TRADING STATEMENTS FOR BME MARKETS

  • The number of Equity trades from January to May grew by 47.5% to 22.8 million
  • New Fixed Income issues grow 61.3% compared to May 2019
  • In the first five months of the year the volume traded in IBEX 35 Futures and Mini IBEX 35 Futures grows 10% and 32.3%, respectively
  • Trading in IBEX 35 futures has grown 19.5% since the ban on net short-selling was lifted

The Spanish Stock Exchange traded in Equities 29.3 billion euros in May, 4.3% less than in April and 27% less than in the same month the previous year. The effective cash volume traded to the end of May totalled 189.6 billion euros, down 4.1% from the previous year.

The number of trades in May amounted to 4.24 million, 39% more than in May 2019 and 23% higher than in April. The number trades in the first five months of the year stood at 22.8 million, which represents a 47.5% increase compared to the same period the previous year.

BME's market share in Spanish equities in May stood at 73.9%, The average spread for the same period was 8.46 basis points at the first price level (12.1% better than the next trading venue) and 13.37 basis points with order book depth of 25,000 euros (23.4% 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.

After the decrease in activity registered in the primary market as a result of the start of the Covid-19 crisis in Europe, new issues in the Fixed Income markets have picked up on the back of the initiatives and asset purchase plans of the European Union, Government, ICO, a state-owned bank attached to the Ministry of the Economy and Business, and the ECB.

The total Fixed Income volume in May came in at 20.9 billion euros, representing a decrease of 29.5% compared to the same month last year. New issues, including Public Debt and Private Fixed Income, amounted to 37.8 billion euros, with an increase of 61.3% compared to May 2019 and 22.3% for the January-May period.

The outstanding balance stood at 1.6 trillion euros, which implies an increase of 4.8% so far this year.

Trading in the Financial Derivatives market in May increased compared to the previous month. It rose 15.8% for Ibex 35 Futures and 56.4% for IBEX 35 Options, On the other hand, trading in Stock Futures increased by 63.4% while it grew 31.6% in Stock Options.

Net short selling on securities listed on the Spanish stock market has been allowed since the ban on these activities was lifted, on 18 May. Over the ten sessions during which the ban was not in place, trading in Ibex 35 Futures grew 19.5% compared to the same period last year.

Trading by business areas and assets

 

May

2020

%Change

April20

%Change

May19

% Change

YearToDate2020

Equities(1)

       

-       Equities

29,311.8

-4.3%

-27.0%

-4.1%

Number of trades

4,240.1

23.0%

39.0%

47.5%

-       Warrants

23.5

12.5%

-17.2%

-8.2%

Number of trades

7.2

18.2%

4.7%

20.9%

-       ETFs

205.3

0.3%

30.8%

63.6%

Number of trades

13.3

-14.4%

129.6%

201.5%

Fixed Income(1)

       

Traded Volume(2)

20,881.5

-34.1%

-29.5%

-16.2%

New Issues

37,801.3

-32.8%

61.3%

22.3%

Outstanding Balance

1,629,370.4

1.6%

4.2%

4.8%

Financial derivatives(3)

       

-       Futures:      IBEX 35

371.0

15.8%

-28.0%

10.0%

                   Mini IBEX 35

81.6

6.2%

-42.2%

32.3%

                   Shares

1,752.4

63.4%

100.8%

-21.3%

-       Options:   IBEX 35

161.2

56.4%

-47.7%

-27.6%

                                Shares

546.6

31.6%

-54.2%

30.5%

(1) Effective trading volume by asset type in million euros; number of trades in thousands

(2) The trading volume includes only trading on electronic platforms

(3) Thousands of contracts