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The number of warrants admitted to trading on the Spanish Exchange in 2008 was 9,827, an annual record high.
The new platform, which is tailored to this type of products, offers enhanced trading capacity and flexibility.
BME Españoles (BME) has launched a new platform for trading Warrants, Certificates and other securities on the Spanish electronic trading system. The new platform, known as SMART-Warrants, is meant to deal with the boom in trading seen in this segment in recent months.
The nine issuers of warrants on the Spanish stock market, Banesto, Bankinter, BBVA, BNP Paribas, Commerzbank, Deutsche Bank, la Caixa, Santander and Societe Generale have completed successfully the gradual transfer of their operations to the new platform over the last few days and are now fully operational on the new platform.
The number of warrants admitted to trading on the Spanish Exchange in 2008 exceeded 9,800, an annual record high and represents a 40% increase on the year 2007. The number of listed warrants to March reached 5,835, up 15.4% from the same period a year earlier.
The new SMART-Warrants system, based on the SMART Gate FIX application has been adapted to allow the current market model, its organisation and oversight to remain the same with reduced adaptation efforts.
Implementation of the SMART-Warrants platform based on the FIX protocol will allow BME to lift trading volumes by providing capacity for up to 300 trades per second per market member, and features greater flexibility when entering combined buy-sell positions.
