For its fixed income market members BME has created a new information management platform called the Sistema de Difusión Unificado de Renta Fija, which will publish an integrated price list of the market's quoted products and all completed transactions, independently of the trading system involved.
This new distribution system represents a noteworthy advance toward the consolidation and integration of information in BME's various fixed income markets, for Public as well as Corporate Debt.
The new platform is Internet accessible, making it flexible, simple and secure for the user and, by allowing remote access, removes the need for any type of local installation.
The new Fixed Income Area service at BME ties into the fields of pre-trade and post-trade information which, in turn, refer to market price information before orders are processed and after operations are finalized. They reflect the evolution of the market over the course of the session, allowing users to assess and gain a complete picture of price changes in different shares.
Francisco Oña, president of AIAF and SENAF and director of BME's Fixed Income and Derivative Area, said this new platform "is designed as a common information centre to serve members of Securities Exchanges Governing Fixed Income, AIAF, Stock Markets and SENAF and provide a robust, reliable data channel for the regulatory authorities." Regarding the recent financial turbulence, Mr. Oña defended the quality of Spanish securitisation issues and highlighted the solvency of Spanish financial institutions. As to the fixed income market, he pointed to the need to introduce greater and more demanding transparency into the current structure.
With this new platform, market supervisors and members can, in a fast, reliable manner, gather the available information on fixed income markets to analyse activity in each segment as well as decide on and assess investments.
Putting this initiative into action will help promote the global image of the Spanish fixed income markets, reinforcing their competitive position and international presence.
Through the Sistema de Difusión Unificado de Renta Fija users will have access to Public Debt positions and information originating in both the SENAF and the Stock Exchange System, as well as Convertible Bonds and Corporate Debt from the AIAF market and Stock Market.
The new information platform provides all the features and details of debt issues using a series of windows that include general data on the issuer, volumes, coupon, rating, other issues made by the issuer, information on placement entities, contributing entities in the case of securitisation, and all the price data available, including the base price used in the BCE auction.
In addition, users will be able to send and receive information on other entities such as agencies' published credit ratings of issuers and stocks included in these markets, and reports made public by issuing companies and analysts on fixed income markets and interest rates, along with other price contributors, etc.
All members of the Public and Corporate Debt markets, as well as Public Debt account holders, belonging to BME will be able to access the new system by way of a username and password.