The consortium formed by BME and AFI has been awarded a contract by the Algerian government to create an electronic Public Debt platform.
The contract entails the training of the personnel who will be in charge of the functioning and maintenance of the platform and was signed by the Algerian Ministry of Finance's General Directorate of the Treasury and the said consortium.
Francisco Oña, Head of the Fixed Income and Derivatives, BME, said the agreement "proves the capacity of BME to offer advice and solutions to other countries and institutions, based on the experience it has gained in the creation and development of platforms for the markets it operates, namely Equities, Fixed Income and Derivatives, as well as in clearing and settlement".
Javier Paredes, a partner of the International Division of AFI, stated: "this project is another step forward for AFI in the consolidation of its activities in North Africa, in an area with a clear growth potential and solid business opportunities in the field of consulting".
The trading volume on the AIAF Fixed Income market to the end of November totaled €2.34 trillion. In 2012 the amount of net financing channeled to the private sector by this market came in at €12.88 billion. The Public Debt trading volume for the same period was €38.79 billion.
Apart from the AIAF market, BME operates several trading platforms in the area of Fixed Income, namely SEND, aimed at private investors, SENAF, specialised in Public Debt for institutional investors and the Stock Exchange system, which is the Fixed Income market operated by the Spanish stock exchange.