Source: Stellar Trading Systems
Stellar Trading Systems (Stellar) and MEFF today announced that Stellar has completed development on a trading gateway to connect its Stellar spreadMachine platform to MEFF.
MEFF is the official Spanish exchange for financial futures and options, forming part of the BME Spanish Exchanges group.
Stellar's gateway will support trading of all of MEFF's key products:
IBEX 35 FuturesIBEX 35 OptionsSingle Stock FuturesSingle Stock Options
Steve Thomas, Managing Director of Stellar, commented: "We are very pleased to be collaborating with MEFF. This gateway meets the considerable demand we've been seeing from customers for MEFF connectivity, and it enhances the broad range of connectivity we already provide to the world's futures markets, at a time when the exceptional speed Stellar delivers has never been more important to market participants."
MEFF's CEO Fernando Centelles said: "This new collaboration with Stellar reflects MEFF's focus on continuing to satisfy the needs of our members, as well as large international investment groups interested in operating in the Spanish derivatives market. MEFF?s connection to Stellar's market-leading platform will provide its members with further technological standardization and efficiency in the global market."
In the first half of 2008, a record total of 40.6 million Futures and Options contracts were traded on MEFF - an 85% increase over the same period of 2007. On June 20th 2008, the MEFF market reached an all time record for a single day of trading of Futures on Stocks, with 2.4 million contracts traded. On July 16th 2008, the MEFF market reached an all time record for a single day of trading of IBEX Futures, with 136,860 contracts traded.