Securities trading - Spain

18.01.2011

Key market-tradable securities

Denomination currencyMaturity
profile		Interest
rate		Interest/Dividend
payment frequency		Place of settlementForm
Bonds issued by the Basque Government
EURVaries
(5 to 10 years)		FixedSemi-annual,
annual		SAC BilbaoBook-entry
Bonds issued by the Government of Catalonia
EURVaries
(3 to 15 years)		Fixed, variable or discount to yieldSemi-annual,
annual		SCL Barna DeudaBook-entry
Corporate bonds (listed/unlisted)
EUR3, 5, 10 or
15 years		Fixed or
floating		Quarterly, semi-annual, annualIberclearBook-entry
Government bonds
EUR3, 5, 10 or
15 years		Fixed or
floating		Quarterly, semi-annual, annualIberclearBook-entry
Matador bondsa (listed/unlisted)
EUR3, 5, 10 or
15 years		Fixed or
floating		Quarterly, semi-annual, annualIberclearBook-entry
Mortgage bondsb (unlisted only)
EUR1, 10, 12 or
15 years		Fixed or
floating		Normally quarterlyIberclearBook-entry
Regional debt
EURVaries
(3 to 30 years)		Fixed, variable or discount to yieldSemi-annual,
annual		IberclearBook-entry
Treasury bills
EUR6, 12 or 18 months--SCL Barna Deuda or IberclearBook-entry
Equities (listed/unlisted)
---Quarterly, semi-annual, annualIberclearBook-entry
Warrants (listed only)
----IberclearBook-entry

a. Matador bonds are securities issued by non-Spanish entities in the Spanish domestic market.
b. Mortgage bonds are securities issued mainly by financial entities against mortgage loans.

Trading platforms

Fixed income

Securities registered in the CADE platform are currently trading in different trading systems:

  • Sistema Electrónico de Negociación de Activos Financieros (SENAF - Electronic Financial Assets Trading System) is the electronic platform for the trading of Spanish public debt bonds. In this system, counterparties are unknown (blind market).
  • EuroMTS trading platform, MTS Spain or MTS ESPAÑA.SON operates, with BrokerTec, the supervised electronic market for Spanish government bonds.
  • Madrid Stock Exchange is a fixed-income securities electronic trading system.
  • BrokerTec offers repo services and also operates, with MTS Spain, the supervised electronic market for Spanish government bonds.

Equities

Equities are traded in SIBE.

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