Requirements

1. Requirements

   In accordance with article 3, chapter 2 of the MEFF Regulations, in order to become a Member of MEFF, entities must meet the requirements established in article 59, section 3 of the Securities Market Act, as detailed below:

   • Investment service companies which are authorised to execute client orders or to trade for their proprietary account.
   • Spanish credit institutions.
   • Investment service companies and credit institutions authorised in other member States of the European Union which are authorised to execute client orders or to trade for their proprietary account.
   • Investment service companies and credit institutions authorised in a non-member State of the European Union, provided it meets a series of requirements.
   • Those people who, in the opinion of the governing company of the corresponding official secondary market, will particularly take into account that the special functions of the market that may be attended by them:
     • are appropriate.
     • have an adequate level of aptitude and competence in regard to trading.
     • have established, where applicable, the appropriate organisational measures, and
     • 4 have enough resources for the role they shall perform, considering the various financial arrangements that the official secondary market may have set up to ensure the correct settlement of the trades.

   The General Conditions of the contracts, in accordance with the Regulations, may establish specific conditions relating to the activity of members for the purposes of the contract to which they refer.

   The members of MEFF must also be members of BME CLEARING.

2. How to become a Member

   The legal process for becoming a Member is very simple. Simply complete a dossier. The dossier includes the contract with MEFF and other necessary documents. The dossier distinguishes between and has specific documents, depending on whether the request is to become a Financial Derivatives Member or Commodities Derivatives Member.

   In order to request a copy of the dossier, click here

   Should you require further information, please contact the Sales Departments at comercialMeff@grupobme.es or meffpower@grupobme.es