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01-APRIL-2020

The Spanish Exchange traded 55.46 bn. euros in March

Monthly trading statements for BME markets

  • Up 59.9% from the same month in 2019 and up 46.4% from February
  • The number of equity trades in March increased 142.3% yoy to 7.61 million
  • New issues admitted in the Fixed Income markets posted a 26.1% increase year-on-year
  • On 12 March 77,763 IBEX 35 PLUS contracts were traded, hitting a daily a record high excluding the expiration weeks

The Spanish Stock Exchange traded 55.46 billion euros in Equities in March, up 59.9% from the same period in 2019 and up 46.4% from the previous month. The number of trades in March reached 7.61 million, up 142.3% from the same period a year earlier and up 82.9% from the preceding month.

BME's market share in Spanish equities in March stood at 72.39%, The average spread for the same period was 14.96 basis points at the first price level (16% better than the next trading venue) and 21.43 basis points with order book depth of 25,000 euros (26.1% better), according to an independent report by LiquidMetrix, available here: www.bmerv.es/ing/Miembros/MIFID_II.aspx, In all trading venues this data includes both transparent order book (LIT) trading – including auctions – and non-transparent (dark) off-book trading.

As regards Fixed Income new issues in March reached 42.62 billion euros, up 83.7% from the previous month and up 19.5% year-on-year. The outstanding balance was 1.59 trillion euros, up 0.9% year-on-year and up 2% year-on-year in the first three months of the year.

The total traded volume in Fixed Income was 31.31 billion euros in March, up 26.1% from February. New issues admitted to trading, including Public Debt and Private Fixed Income issuances, amounted to 42.62 billion euros, with growth rates of 19.5% compared to the same month of 2019 and 83.7% compared to February this year. The outstanding balance stood at 1.59 trillion euros, up 0.9% from March 2019 and up 2% year on year for the January to March 2020 period.

The trading volume in the Financial Derivatives kept increasing in March, especially Index Futures, in a month marked by greater volatility. On 12 March 77,763 IBEX 35 PLUS contracts were traded, hitting a daily record high, excluding the contract’s expiration weeks. In March the trading volume of IBEX 35 and Mini IBEX Futures grew by 74.6% and 200.8% respectively year-on-year. As regards Stock Options March marked the third consecutive month of year-on-year growth, with a 60.4% increase.

The trading volume posted by BME’s Derivatives Market grew 17.8% year on year.

Trading by business areas and assets

 

March

2020

%Change

Feb20

%Change

March19

% Change

YearToDate2020

Equities(1)

       

-       Equities

55,468.1

46.4%

59.9%

19.6%

Number of trades

7,609.8

82.9%

142.3%

59.3%

-       Warrants

30.6

-1.3%

8.8%

-0.8%

Number of trades

10.5

31.4%

60.7%

30.4%

-       ETFs

457.8

93.4%

232.3%

75.4%

Number of trades

33.6

189.0%

524.3%

220.7%

Fixed Income

       

Traded Volume(2)

31,313.0

26.1%

-18.9%

-20.6%

New Issues

42,625.6

83.7%

19.5%

-9.7%

Outstanding Balance

1,585,943.0

1.3%

0.9%

2.0%

Financial derivatives(3)

       

-       Futures:      IBEX 35

875.2

40.7%

74.6%

35.2%

                   Mini IBEX 35

351.8

118.1%

200.8%

77.3%

                   Shares

2,899.4

533.3%

-5.6%

-29.4%

-       Options:   IBEX 35

135.1

-54.7%

-66.7%

-11.0%

                                Shares

2,199.8

-1.7%

60.4%

74.7%

(1) By asset type in million euros; number of trades in thousands

(2) Since implementation of MiFID II only trading on electronic platforms included

(3) Thousands of contracts