MEFFCLEAR gives counterpart to 1,250 million euros in repos traded in SENAF, in its first day of activity
September
19, 2003
MEFFCLEAR, MEFF's Central Counterparty (CCP), began yesterday
its activity as counterpart to the trade of repos on Spanish Debt
with a volume of 1,250 million euros traded in the SENAF electronic
platform.
7 Clearing Member out of 12 enrolled in MEFFCLEAR up to yesterday
traded this volume.
MEFFCLEAR developed, with absolute reliability and in real
time, all the procedures necessary for the Risk Control of each
account.
On the other hand, the launching calendar of the Central Counterparty
foresees that on 2 October it will begin the register of OTC
trades entered by any holder of an IBERCLEAR account that participates
in MEFFCLEAR. Additionally, in an 8-10 weeks time after that
date, it will begin the CCP service for cash trades on Spanish
Debt made either OTC or on any trading platform.
