Skip Navigation

Technical Advisory Committee

The Technical Advisory Committee in charge of the Indexes is composed of a minimum of five and maximum of nine members. Where the Committee is made up of an even number of members, the Chairman shall have the casting vote.

Responsibility for appointing the members of the Technical Advisory Committee, and the Chairman and Secretary and for establishing its internal rules rests with the Board of Directors of Sociedad de Bolsas, S.A.

The current members of the Committee are:

  • Mr. Mikel Tapia, in his capacity of Chairman of the Committee

Mikel holds a graduate degree and a doctorate in economics from the University of the Basque Country and is professor of finance at Madrid's Carlos III University. Before taking up his position as the chairman of the Technical Advisory Committee of IBEX 35®, Mikel was an independent director of BME Clearing and Vice Chancellor of Madrid's Carlos III University. Mikel's research has focused on the micro-structure of markets and asset valuation. Mikel has been published in the Journal of Banking and Finance, the International Review of Economics & Finance and the Investigaciones Económicas journal.

  • Mrs. Carmen Ansotegui 

Carmen holds a PhD in economics from the University of Pennsylvania, a bachelor's degree in business sciences from the University of Zaragoza, a master's degree in economic theory and a master's degree in derivative financial products from the UAB. She is a professor of finance at the ESADE business school, where she has taught courses in corporate finance, financial markets and derivatives. She has published in domestic and international academic journals in the area of asset valuation.

  • Mrs. Natividad Blasco

Natividad holds a degree and doctorate in economic and business sciences, and is professor of financial economics and accounting at the University of Zaragoza. In addition to her teaching and research work, she has also been the Vice Chancellor of that University and directed the official master's degree in accounting and finance. She has been the chairman of the Economic and Social Council of Aragon and an advisory member of the National Evaluation Commission for Research. Her research focuses on financial markets and, in particular, behavioural finance. She has been published in journals such as the European Journal of Operational Research and Quantitative Finance.

  • Mr. Pablo Fernández

Doctorate in finance (PhD Harvard University), MBA (IESE business school) and industrial engineer (University of Navarra). He is a professor of financial management at the IESE business school and is a consultant in business valuation and finance. He previously worked at Pepsi Cola International in Spain and Italy. He has published more than 200 articles and 18 books. The last two books (Valoración de empresas y sensatez and Valuation and common sense) are available for free download online. He has been a member of the IBEX 35 expert committee since 1991. The questions he has dealt with include: valuation of companies for acquisition and sale, and for arbitration and legal processes; financial information relevant to senior management.

  • Mr. Máximo Ferrando Bolado

Máximo holds a graduate degree and doctorate in economics and business from Madrid's Complutense University. He has been a professor of business finance at the University of Valencia. He has co-authored academic books on financial options, the cost of sources of finance and computerised financial applications, in addition to teaching manuals on financial management, choosing productive investments and the theory of financing. His research work focuses on the risk-return trade-off, equilibrium models for capital markets, fuzzy financial planning, Z-scoring models for forecasting bankruptcy and protection from creditors, leverage and the financial structure of SMEs

  • Mrs. Marta Gómez-Puig

Marta holds a degree in economics and business administration from the University of Barcelona, a master's degree in the European economy from the Université Libre in Brussels and a doctorate in economic and business sciences from the University of Barcelona. She is currently a senior university lecturer (with professor's accreditation) in the Economics Department of the University of Barcelona, and is a member of the "Risks in Insurance and Finance (Riskcenter)" research group. She previously worked in the Research Department of the Barcelona Stock Exchange and for Analistas Financieros Internacionales in Madrid. She has done research placements at MIT, the ECB and the Cass Business School in London. Her research focuses on the behaviour of international financial markets.

  • Mr. Antonio Giralt 

Antonio has a degree in economics and business administration (business economics section) from the Autonomous University of Barcelona and is a member of the Spanish Institute of Financial Analysts. Until 2016, he was the chairman of the MAB and LATIBEX, deputy director general of the Barcelona Stock Exchange and member of the coordination committee of Bolsas y Mercados Españoles (BME). Before that, he was a member of: the contracting and supervision commission of the Stock Market Interconnection System (SIBE); the technical advisory committee of the IBEX indices; and the new contracts and regulations and supervision and surveillance commissions of the Spanish Financial Futures Market (MEFF) Equities. He was also a financial analyst for an asset management company.

  • Mr. Simón Sosvilla Rivero

Simón holds a degree in economics and business administration from the University of La Laguna, a postgraduate in economic theory and quantitative methods from the Autonomous University of Barcelona, a master's degree in economics from the LSE and a doctorate in economics (Ph D. in economics) from the University of Birmingham. He has been a senior researcher and executive deputy director of the Foundation for Applied Economics Studies. He is professor of economic analysis at Madrid's Complutense University and an associate researcher in the University of Barcelona's Research Group on Insurance and Financial Risks. His research interests include applied macroeconomics and international finance. He has been published in the European Economic Review, the Journal of Banking and Finance and the Journal of International Money and Finance.

Mrs. Carmen López as Secretary to the Committee but will not be a member of the same.