6. Annual Accounts
Annual Report 2014 BME
PricewaterhouseCoopers Auditores, S.L., Torre PwC, Pº de la Castellana 259 B, 28046 Madrid, España
Tel.: +34 915 684 400 / +34 902 021 111, Fax: +34 913 083 566,www.pwc.com/es
R. M. Madrid, hoja 87.250-1, folio 75, tomo 9.267, libro 8.054, sección 3ª
Inscrita en el R.O.A.C. con el número S0242 - CIF: B-79 031290
This version of our report is a free translation of the original, which was prepared in Spanish.
All possible care has been taken to ensure that the translation is an accurate representation of
the original. However, in all matters of interpretation of information, views or opinions, the
original language version of our report takes precedence over this translation.
INDEPENDENT AUDITOR´S REPORT ON CONSOLIDATED ANNUAL ACCOUNTS
To the shareholders of Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas
Report on the consolidated annual accounts
We have audited the accompanying consolidated annual accounts of Bolsas y Mercados Españoles,
Sociedad Holding de Mercados y Sistemas Financieros, S.A. (the Company) and its subsidiaries (the
Group), which comprise the consolidated statement of financial position as at December 31, 2014, and
the consolidated income statement, statement of changes in equity, cash flow statement and related
notes for the year then ended.
Directors' Responsibility for the Consolidated Annual Accounts
The parent company´s Directors are responsible for the preparation of these consolidated annual
accounts, so that they present fairly the consolidated equity, financial position and financial
performance of Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros,
S.A. and its subsidiaries, in accordance with International Financial Reporting Standards, as adopted
by the European Union, and other provisions of the financial reporting framework applicable to the
Group in Spain and for such internal control as Directors determine is necessary to enable the
preparation of consolidated annual accounts that are free from material misstatement, whether due to
fraud or error.
Our responsibility is to express an opinion on these consolidated annual accounts based on our audit.
We conducted our audit in accordance with legislation governing the audit practice in Spain. This
legislation requires that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the consolidated annual accounts are free from material
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the consolidated annual accounts. The procedures selected depend on the auditor's judgment,
including the assessment of the risks of material misstatement of the consolidated annual accounts,
whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the parent company´s Directors´ preparation of the consolidated annual accounts in order
to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity's internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the presentation of the consolidated annual
accounts taken as a whole.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
In our opinion, the accompanying consolidated annual accounts present fairly, in all material respects,
the consolidated equity and financial position of Bolsas y Mercados Españoles, Sociedad Holding de
Mercados y Sistemas Financieros, S.A., and its subsidiaries as at December 31, 2014, and its
consolidated financial performance and its consolidated cash flows for the year then ended in
accordance with International Financial Reporting Standards, as adopted by the European Union, and
other provisions of the financial reporting framework applicable in Spain.
Report on Other Legal and Regulatory Requirements
The accompanying consolidated Directors’ Report for 2014 contains the explanations which the parent
company´s Directors consider appropriate regarding Bolsas y Mercados Españoles, Sociedad Holding
de Mercados y Sistemas Financieros, S.A. and its subsidiaries’ situation, the development of their
business and other matters and does not form an integral part of the consolidated annual accounts. We
have verified that the accounting information contained in the Directors’ Report is in agreement with
that of the consolidated annual accounts for 2014. Our work as auditors is limited to checking the
directors’ Report in accordance with the scope mentioned in this paragraph and does not include a
review of information other than that obtained from Bolsas y Mercados Españoles, Sociedad Holding
de Mercados y Sistemas Financieros, S.A. and its subsidiaries’ accounting records.
PricewaterhouseCoopers Auditores, S.L.
Original in Spanish signed by
Jose María Sanz Olmeda
February 26, 2015