Bolsas y Mercados Españoles (BME) has been given approval by Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV), for a new digital assets derivatives segment.
Under the EU regulatory framework, BME Clearing can now clear Bitcoin and Ethereum futures denominated in US dollars.
According to an announcement from SIX, the new digital asset derivatives segment has been introduced in response to market demand. It will focus on “introducing digital assets to a secure and highly regulated environment, that will upgrade the trading, clearing and cash settlement of digital asset futures,” said the company.
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BME Clearing is the Central Counterparty (CCP) of BME Group and has been in operation managing counterparty risk for over 30 years.
BME Clearing is the CCP for the financial derivatives, fixed income, swaps, equity, energy, and xRolling Futures segments.
José Manuel Ortiz, head of clearing and repo operations at SIX, said: “This milestone reflects our dedication to empowering institutions, clients and investors with innovative solutions, contributing to the continued growth of the digital asset ecosystem, and ensuring a secure and efficient trading experience for all our valued customers”.
Earlier this year, SIX scrapped the planned multi-year BME trading platform integration due to unexpected legal and technical complexity. The migration was originally expected to be completed between the Q4 2022 and Q2 2023.