Options and Futures:
MEFF
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STRUCTURE ORGANISATION AND OPERATION
OF THE SPANISH SECURITIES MARKET
C. MEFFRepo, central clearing
house for fixed income repo
transactions
Under the new legislative framework approved
in 2011, MEFF’s CCH can cater for all transactions
involving fixed income securities traded on the se-
curities markets, electronic systems or using other
means, by settlement members and/or client.
Once an operation is registered in MEFF’s
CCH, the rights and obligations arising from it are
automatically understood to be substituted, through
the inclusion of the CCH as a counterparty, with
new rights and obligations arising for members and/
or clients of and against it and extinguishing those
that until then existed between settlement members
or clients that conducted the operation originally.
Within this sphere of activity is MEFF Repo, a
segment of this clearing house for repo transactions
(with buyback pact) on fixed income securities, pre-
viously known as MEFFCLEAR.
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