Spanish exchange Bolsas y Mercados EspaÃ±oles (BME) has launched new data products that will make end-of-day market data available for all BME markets in a single format for the first time.
In July last year, members of the Federation of European Securities Exchanges, an exchange trade body of which BME is a member, committed to improving the quality of their post-trade data, including provision of pre- and post-trade data at a reasonable cost by the end of the year.
Exchanges also committed to making their data free after a 15-minute period and supporting standardisation of the flags used to identify different types of trades in post-trade reports.
The new service provides information on all financial instruments traded on the BME markets, including equities, exchange-traded funds, derivatives, fixed income, warrants and certificates. It also includes information on closing prices and volumes, corporate actions, master data of the Spanish markets, including tick data service and positions, as well as comprehensive information on all BME-managed indices, constituents and weightings.
In the ”reference data' category, two new data products are included: the BME master data daily file that provides all relevant characteristics of the different instruments listed on the exchange; and the BME daily corporate actions file, which will include detailed descriptions of all financial corporate actions issued by all listed companies such as capital increases and annual shareholder meetings.
The new offering is designed to help allow BME clients to automate processes such as the end-of-day valuation of portfolios, market research and development of indicators and the definition and back testing of algorithmic trading strategies.
BME has stated that it is currently working to build up its information business area, which it considers a “major revenue source” and means of diversifying its revenue sources.
Although the BME has so far experienced little competition due in part to post-trade infrastructural obstacle to new entrants, an increasing number of multilateral trading facilities (MTFs) are offering trading in Spanish stocks. As well as pan-European MTFs, an indigenous rival, Platforma Alternativa de Valores EspaÃ±oles, plans to launch in Spain in Q1 2012.