SEND Platform: Purchase and Sale of Government Debt Securities, Direct Accounts
SEND, BME’s fixed income trading market, provides a regulated and transparent environment for the trading of debt instruments. In this context, the role of the Market Maker contributes to the proper functioning of the market through the continuous provision of prices.
GVC Gaesco Securities acts as a Market Maker on SEND, assuming quoting commitments that include:
- The continuous provision of bid and ask prices for certain debt assets traded on the platform.
- Contributing to market continuity and depth during established trading hours.
- Facilitating efficient trading conditions for the different market participants.
The participation of market makers on SEND contributes to the provision of liquidity, more efficient price formation, and smoother operational access for the various market participants. This collaboration between SEND and market makers forms part of BME’s operational framework for the development of an efficient, transparent, and accessible fixed-income market.
The fee charged by the Market Member for each Direct Accounts transaction will be a maximum of 2.5‰ (two and a half per thousand) of the nominal amount for orders of up to €1,000,000, and 1‰ (one per thousand) for amounts above that threshold. A minimum charge of €9 applies, to which transfer costs per transaction will be added. The cash transfer costs generated by the transaction will be communicated by the Member to the Bank of Spain in accordance with the applicable terms.