On 4 January, CNMV authorized organized trading facility per MiFID.
- CNMV authorized two MIFID organized trading facilities: CAPI OTF and CIMD OTF.
- Organized Systems of Contracting (SOC), also known as organized trading facility.
- OTF new kind of trading centers in which, under MIFID II, multiple purchase, sale
of interests of third parties interact to create contracts in fixed income, derivatives.
- Approved regulations include operating rules of these SOC in relation to categories
of instruments that may be negotiated, conditions of access to the trading systems.
- Also negotiation forms or systems, compensation measures, efficient settlement of
operations, negotiation transparency levels, suspension and exclusion mechanisms.
- CNMV confirmed regulations in accordance with MIFID II, implementing regulations.
- CAPI OTF to be managed by CM Capital Markets Brokerage, S.A. Securities Agency
and also the CIMD OTF, which will be managed by CIMD Sociedad de Valores, S.A.
- Both entities have requested and obtained the corresponding authorization for the
extension of their respective programs of activities to include management of SOC.