SPANISH EXCHANGE GOES TO FOUR DECIMAL PLACES ON PLATFORM

Posted December 1, 2008

MADRID -- Bolsas y Mercados Españoles (BME) will in the coming months increase the price figures for buying and selling of shares to four decimal places, therefore increasing the trading options on its electronic trading platform.

BME plans to offer the new capability, intended to improve the exchange’s liquidity, in the second quarter of 2009. The exchange has begun testing the first version of its SIBE platform with four-decimal prices.

In July, the BME launched an anonymous platform for block trading based on its SIBE platform, which complies with MiFID regulations for the European securities industry. The BME is also offering its members a new service for transaction reporting to CNMV, the Spanish stock market regulator.