BME FX is the platform managed by BME for the trading and settlement of FX transactions, which offers its participants the possibility of buying and selling Spot currencies with the innovation that settlement is carried out through a Payment versus Payment system managed by BME. Is the only platform with FX trading and settlement integrated into the same service.
BME FXS
The Payment System for Secure Settlement of FX Transactions
FXS is the Payment System managed by BME as a solution to eliminate principal risk in the settlement of FX transactions, by providing a Payment versus Payment settlement service.
FXS is a secure alternative to mitigate the risks of bilateral settlement. FXS service is based on an advanced automated Payment versus Payment System, under supervision of the Bank of Spain.
Among other advantages, FXS allows improving operational efficiency by netting credits and debits, as well as reducing the consumption of credit lines between counterparties.
Service Features
These are the main features of the Spanish Stock Exchanges and Markets (BME) FX platform:
- Settlement of transactions traded on BME FX Spot and other FX platforms.
- Settlement in D, D+1, D+2 and D+X.
- Multiple currencies supported.
- Integrated in SWIFT.
- Subject to CPMI-IOSCO principles for financial market infrastructures.
How It Works:
- Reception of settlement instructions from participants on
transactions in which they are counterparties, to be settled through FXS. Instructions can be sent to FXS via MT300 SWIFT messaging, via API interface, or by manually inputting transaction. details into FXS terminal. - Validation of operations (format and content).
- Matching of instructions related to the same transaction.
- Allocation and global position balance calculation.
- Bilateral netting and Payment versus Payment algorithm calculation.
- Pay-in call to all counterparties.
- Validation of received funds and execution of Pay-outs.
Admitted Currencies
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GBP
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USD
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CHF
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EUR
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