Regulatory Alerts2011-01-05
Resolution of 21 December 2010 of the National Securities Market Commission Publishing the Regulation of the Official Secondary Market for Futures and Options (MEFF)
The Spanish National Securities Market Commission (CNMV) issued a resolution on 21 December 2010 to publish the new Regulation of the Official Secondary Market for Futures and Options (MEFF), which entered into force on 24 January 2011. This regulation establishes the legal framework governing the composition, operation, and conduct rules of the MEFF market, managed by MEFF Sociedad Rectora de Productos Derivados, S.A.U. It defines the rights and obligations of members and clients, details the procedures for trading, central clearing, and settlement, and outlines the mechanisms for handling defaults and market supervision.
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