MEFF Authorised To Exercise An Activity As Foreign Stock Exchange In

The financial regulatory authority in Switzerland, SFBC (Swiss Federal Banking Commission), has authorized MEFF, on February 21, 2001, to exercise an activity as foreign exchange in Switzerland.

The above authorization will allow financial entities domiciled in Switzerland to become members of MEFF, and to operate in the Spanish Financial Futures and Options Exchange, both on their own account and on their clients´account.

SFBC´s decision is important for MEFF, as it gives a response to the request by several financial entities based in Switzerland, which have expressed their interest in trading, as MEFF members, the contracts offered by this exchange through its fully electronic system.

Among the contracts offered by MEFF for trading are the futures and options on the IBEX-35 stock exchange index, equity options on a number of Spanish listed companies, and the recently launched equity futures, which trade at MEFF since January 11, 2001, and which have turned into an instant success since launch. MEFF will also launch in the forthcoming months, together with the Chicago Mercantile Exchange and Standard & Poor´s, futures and options contracts on the S&P Europe 350 Index and its Sectors, once the Spanish securities regulatory agency (CNMV) gives its approval. The Swiss entities will have access to trade all these products as well, as any other MEFF member.