As of today, BME is making the CONNEXOR service available to warrants issuers in Spain.
CONNEXOR will streamline the process of warrants’ admission to trading, by automating the data flow from the issuers to BME and including Iberclear. The roll-out to the Spanish market is a step forward in the digitalization and modernization of the listing process.
CONNEXOR enables issuers to have their product rapidly admitted to trading while it allows non-listed instrument data to be captured and distributed in a standardized manner, which guarantees fast and error-free information across the board. Issuers can additionally automate some of their reporting processes, making it easier to electronically submit product event information during the lifecycle of a product.
CONNEXOR is a SIX Swiss Exchange platform based on the highly scalable XML (Extensible Markup Language) data format, and facilitates the efficient management of reference data throughout the entire life cycle of a financial product. Reference data is captured electronically in a standardized way, directly at source, even for instruments listed on other exchanges, OTC or private placements. This allows for straight through processing, making data available to any number of data consumers in a standardized manner, without any changes to content. The process is fast, efficient and eliminates repeated efforts across different interfaces and data models.
Last year, 1.15 million newly issued products across various asset classes have been submitted to the platform: structured products (including warrants), OTC derivatives, Exchange Traded Products (ETPs), fixed income securities and life insurance policies. Since the launch of the service in Switzerland in 2009, it has become the reference data communication standard for structured products in the Swiss market and in other European countries. Numerous market participants such as financial institutions, data vendors, investors, technology partners, public authorities and other reference data users are already connected to the infrastructure. CONNEXOR is available in more than ten countries (Switzerland, Germany, France, United Kingdom, Hong Kong, Singapore, United Arab Emirates, Netherlands, Luxembourg, Ireland, United States, and others).
Issuers of warrants in the Spanish market who wish to use CONNEXOR to provide reference data for their warrants will be able to do so at no additional cost.