About BME. BME is a technically advanced company. It is widely diversified, very sound financially and has a strong presence in international markets.

Transcription

1 10 10 BME is a technically advanced company. It is widely diversified, very sound financially and has a strong presence in international markets. BME currently integrates systems for registering, clearing and settling securities, secondary Spanish markets and official trading systems, and carries out a range of complementary and auxiliary services spanning, among other areas, information, consulting, information technologies, contingency services, a business continuity and contingency service and training. BME s headuarters and all of its subsidiary companies main offices are in Spain, where the group does business.

2 11 11 BOLSAS Y MERCADOS ESPAÑOLES (BME) MEFF AIAF IBERCLEAR BOLSA DE BOLSA DE BOLSA DE BOLSA MAB BME INSTITUTO BME BME INFOBOLSA SENAF MADRID VALENCIA BARCELONA DE BILBAO CONSULTING BME INNOVA MARKET DATA MEFF RENTA VARIABLE VISUAL TRADER SYSTEMS DATABOLSA CENTRO DE CÁLCULO MEFF RENTA FIJA BORSATEL MEFF EUROSERVICES SOCIEDAD DE BOLSAS MEFF TECNOLOGÍA Y SERVICIOS LATIBEX AIAF SENAF BME SERVICIOS CORPORATIVOS

3 12 12 Companies comprising the BME group Stock exchange governing companies The stock exchange governing companies list for trading, supervise and manage the official secondary market for euities, private fixed income, public debt, warrants and certificates. Bolsa de Madrid Madrid Stock Exchange (Sociedad Rectora de la Bolsa de Valores de Madrid, S.A.U). Owner of 90% of the firm Visual Trader Systems, S.L., which channels orders from financial institutions to the Spanish market and sends orders to markets outside Spain. The Valencia stock exchange holds a 10% interest in Visual Trader Systems. Bolsa de Barcelona Barcelona Stock Exchange (Sociedad Rectora de la Bolsa de Valores de Barcelona, S.A.U). In addition to the aforementioned activities, the Barcelona Stock Exchange exclusively handles the trading and settlement of public debt issued by the Catalonian regional government. The Barcelona stock exchange owns the following companies: Centro de Cálculo de Bolsa, Borsatel and Databolsa. Bolsa de Bilbao Bilbao Stock Exchange (Sociedad Rectora de la Bolsa de Valores de Bilbao, S.A.U). In addition to the aforementioned activities, the Bilbao Stock Exchange exclusively handles the trading and settlement of public debt issued by the Basue Country regional government. Valencia Stock Exchange (Sociedad Rectora de la Bolsa de Valores de Valencia, S.A.U). In addition to the aforementioned activities, the Valencia Stock Exchange exclusively handles the trading and settlement of public debt issued by the Valencia regional government. Together with various Latin American stock exchanges, the four Spanish stock exchange governing companies manage Latibex, the official trading system for Latin American securities in euros. The companies also hold a 25% interest each in Sociedad de Bolsas, S.A., which manages and operates the Spanish electronic trading platform (SIBE).

4 13 13 MEFF Sociedad Rectora de Productos Financieros Derivados de Renta Variable, S.A.U. (MEFF Renta Variable). Manages the euity derivatives market and is the counterparty for its main products. MEFF, Sociedad Rectora de Productos Financieros Derivados de Renta Fija, S.A.U. (MEFF Renta Fija). Manages the fixed-income derivatives market and is the counterparty for its main products. MEFF Euroservices, S.A.U., S.V. Carries out transfer of orders to European markets (Eurex). In addition, manages virtual power plant auctions. MEFF Tecnología y Servicios S.A.U. Development and operation of data-processing systems, calculation of guarantees, settlement and billing for Spanish electricity market auctions. AIAF Mercado de Renta Fija S.A.U. Manages and supervises both the primary and secondary corporate debt markets. Sistema Electrónico de Negociación de Activos Financieros, S.A. This entity manages the electronic market for public debt trading, including both spot and repo transactions. Iberclear Sociedad de Gestión de los Sistemas de Registro, Compensación y Liuidación de Valores, S.A.U. Spain s central securities depository in charge of the registering of securities and the clearing and settlement of all trades on Spanish stock exchanges, the book-entry public debt market, AIAF and Latibex. The Spanish government, under the supervision of the Ministry for the Environment and Rural and Marine Affairs, has entrusted Iberclear with management of the National Registry of Greenhouse Gas Emission Rights (RENADE). BME Consulting Bolsas y Mercados Españoles Consulting, S.A.U. This firm operates in 23 countries, developing joint consulting and technology projects and cooperation and service provision agreements. MAB Mercado Alternativo Bursátil, S.A.U. A system of trading, settlement, clearing and registration of transactions performed with: Shares and other securities of Collective Investment Institutions (CIIs). Stakes in venture capital companies. Securities and instruments issued or linked to small caps. Other securities or instruments that, due to their nature, reuire a special trading scheme. Infobolsa, S.A. Jointly owned (50%-50%) by BME and Deutsche Börse. This firm sells financial market real-time information services.

5 14 14 Instituto BME Instituto Bolsas y Mercados Españoles, S.L.U. BME s educational centre, whose activities are focussed on organising a range of educational services linked to financial markets in general. BME Innova Bolsas y Mercados Españoles Innova, S.A.U. The company offers business contingency and continuity services which are customised to the needs of financial institutions and market members, and financial technology services in conjunction with SWIFT. BME Market Data Bolsas y Mercados Españoles Market Data, S.A.U. The company offers documentation and handling of financial, economic, euity market, currency and commercial data via computerised systems and any other channels. In addition to the aforementioned companies, BME Servicios Corporativos, S.A., acts as a BME subsidiary. Stakes in other companies. From the time of its founding, BME has been involved in the development and modernisation of Latin American financial markets, as evidenced by the following shareholdings: Cámara de Riesgo Central de Contraparte de Colombia, S.A., in which BME holds 10% through MEFF AIAF SENAF Holding de Mercados Financieros, S.A.U. Cámara de Riesgo Central de Contraparte de Colombia, S.A. is meant to act as the central counterparty in Colombia s futures and options market. Bolsa Mexicana de Valores, S.A. in which BME owns a 0.99% stake. In addition to its aforementioned holdings in Latin American companies, BME has stakes in other Spanish companies: Compañía Operadora del Mercado Español de Electricidad, S.A., of which BME owns 7.28%. This company, in accordance with Electricity Industry Law 54/1997 of 27 November, Royal Decree 2019/1997 of 26 December, which organises and regulates the electricity generation market, and Royal Decree 1747/2003 of 19 December, which regulates the peninsular and non-peninsular electricity systems, adopts the functions necessary to carry out financial management for the effective development of the electricity production market. Link Up Capital Markets, S.L., a company formed by Iberclear and seven large European central securities depositaries for the purpose of improving efficiency and reducing the cost of cross-border securities transaction settlement in Europe.

6 15 15 BME s structure The companies comprising BME are managed in a coordinated manner, based on a structure consisting of seven Business Units and seven Corporate Areas. Corporate Areas Human Resources Technology Financials Corporate Communication International Relations Administration Legal Business Units Euities: Trading of securities through the electronic trading platform (Sistema de Interconexión Bursátil) or on the stock-exchange floor and all corresponding post-trade activities. Derivatives: Trading, counterparty management and settlement of derivatives products. Fixed income: Trading of private fixed income and public debt securities. Settlement: dissemination of information as a primary source and commercial provider services. Information: difusión de información como fuente primaria así como los servicios de redifusores comerciales. Listing: Listing and maintenance services for issuers on the euities and private fixed income markets. IT&Consulting: Production and sale of software, global access, advisory and training services. The Business Units are not necessarily the legal entities which comprise BME, except in the case of the Settlement Unit which is made up almost exclusively of Iberclear s business. This structure, inspired by the fact that different group companies carry out many of the same activities, is superimposed on the legal structure and allows the group to make more rational use of human and technical resources.