BME Clearing Members

Types of Members
How to Become a Member
List of Participants
Fees

Types of Members

General Clearing Member

Acts in its own name and on behalf of clients, Non-Clearing Members and Ordinary Non-Clearing Members, directly and fully assuming its responsibilities towards BME Clearing. Manages all operating and transactional accounts and is accountable to us for the obligations related to its own positions and those of its clients.

Individual Clearing Member

Operates on its own behalf and on behalf of its clients, and it has full access to the Trade Register. It is responsible to BME Clearing for compliance with all obligations associated with the positions registered in its accounts and those of its clients.

Non-Clearing Member

Acts through a General Clearing Member and shares joint and several liability with BME Clearing. It operates both on its own account and on behalf of its clients and indirect clients. It may request to open accounts (proprietary, ISA Agency, OSA and GOSA accounts), report trades and broker transactions through its General Clearing Member.

Ordinary Non-Clearing Member

Does not manage accounts in the Trade Register and operates through a General Clearing Member, which processes ISA PtoP, OSA or GOSA accounts on its behalf as appropriate. The General Clearing Member is liable to BME Clearing for all transactions carried out, regardless of whether the Ordinary Non-Clearing Member has complied with its clients or indirect clients.

Proprietary Non-Clearing Member

An authorized entity with direct access to the CCP’s clearing services for the purpose of managing only its own transactions. It does not perform clearing functions for third parties.

How to become a member

The different types of members at BME Clearing are:

General Clearing Member
Indivual Clearing Member
Ordinary Non-Clearing Member
Non-Clearing Member
Proprietary Non-Clearing Member

Request documentation

In order to become a Member of the CCP interested entities shall complete and send the Membership Dossier to BME Clearing.
Request documentation

Admission requirements

The requirements to acquire the CCP Member condition are described in Article 3, 4 and 6 of BME CLEARING Rulebook.

Solvency requirements

The solvency requirements for Members to act in BME Clearing in relation to Contracts in this Contract Group shall be as determined in these General Terms and Conditions:

Financial Derivatives Segment

To become a Proprietary Non-Clearing Member interested entities must have a minimum equity of 50,000€.
To become a General Clearing Member, interested entities must have a minimum equity of 25,000,000€.
To become an Individual Clearing Member, interested entities must have a minimum equity of 3,500,000€.

Cash Equity Segment

To become an Individual Clearing Member, interested entities must have a minimum equity of 3,500,000€.
To become a General Clearing Member, interested entities must have a minimum equity of 25,000,000€ when they have entered into a contract with a maximum of four Non-Clearing Members, and of an additional 5,000,000€ for each additional four Non-Clearing Members with which they have entered into the related contract, up to a maximum of 45,000,000€.

Fixed Income/Repo Segment

To become a Proprietary Non-Clearing Member and Proprietary Ordinary Non-Clearing Members, interested entities must have a minimum equity of 40,000,000€.
To become an Individual Clearing Member, interested entities must have a minimum equity of 40,000,000€.
To become a General Clearing Members interested entities must have a minimum equity of 125,000,000€.

Energy Derivatives Segment

Proprietary Non-Clearing Members and Proprietary Ordinary Non-Clearing Members shall maintain an equity level in accordance with requirements established by BME Clearing by Circular, with a minimum of 50,000 €.
To become an Individual Clearing Member, interested entities must have minimum equity of 3,500,000 €.
To become a General Clearing Member, interested entities must have minimum equity of 25,000,000€

Interest Rates Segment

Clearing Members must have a minimum equity of 40,000,000€.

Fees

General Fees

Equity Segment Fees

Fees for the Financial Derivatives Segment

Fees for the Segment of Fixed Income Securities

Fees for the Segment of OTC Derivatives on Interest Rates

Fees for the Energy Segment

Contact

Please contact our team with any questions or enquiries regarding membership.

Related information

regulation and support

Clearing services

CLEARING segments

who we are

technology

CONTACT

Frequently asked questions

To become a member of BME Clearing, applicants must meet the applicable legal, operational and financial requirements, and complete an admission process that includes the execution of contractual documentation and adherence to the entity’s rules.

There are different types of membership, including general clearing members, individual clearing members and non-clearing members, depending on their ability to clear their own trades and those of third parties.

To become a member of BME Clearing, applicants must meet regulatory, financial and operational requirements, including, among others, minimum capital levels, adequate technical capabilities and the implementation of risk management procedures in line with applicable regulations.

The admission process includes the assessment of the application, submission of the required documentation, execution of contractual agreements and completion of technical testing to ensure proper connectivity and operational readiness with the clearing house.

Find out more