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BME Launches The RODE Index Family

Date 04/05/2021

  • This new index series, which began to be calculated yesterday, represents the evolution of the Spanish Public Debt at different maturities.

BME has launched the new Government Debt Transaction Yield (RODE) index family, designed to reflect the evolution of the Spanish Public Debt market at its different maturities.


This index series comprises nine daily and nine monthly indicators, which reflect the internal rate of return in the Public Debt market, at different maturities, ranging from six months to more than 20 years, integrating transactions on a monthly and semi-annual basis.

The daily RODE indices are designed to represent average rates and prices weighted by the nominal volume of the transactions carried out over the past month, while the monthly RODE indices are calculated on the first session of each month with data from the previous six months.

Specifically, one of the monthly indices of the RODE family, the Public Debt Index from 2 to 6 year (S), continues the series of the "yield rate in the secondary Public Debt market for the period of 2 to 6 years", calculated until now by the Bank of Spain.

This benchmark is considered an official interest rate, and will be calculated by Sociedad de Bolsas, as the Benchmark Administrator. It is published monthly by the Bank of Spain in the Official State Gazette and will also be available on its website.

Both the RODE index series and the Technical Regulations have been available on BME's website since May 3, through this link:

https://www.bmerv.es/ing/aspx/Indices/ResumenDP.aspx