BME Clearing

What BME Clearing does

BME Clearing, S.A.U. operates as a Central Counterparty (CCP) clearing house within the BME Group (Bolsas y Mercados Españoles), itself a wholly-owned subsidiary of SIX Group. Headquartered in Madrid and authorized by the CNMV under the EMIR framework and recognized by ESMA, BME Clearing interposes itself as buyer to every seller and seller to every buyer, guaranteeing trade fulfillment and managing counterparty credit risk across multiple asset classes including financial derivatives (MEFF), equities (SIBE), repos on public debt, interest rate derivatives, energy derivatives (across EEX, OMIP, MIBGAS, MEFF, ICE), and digital assets.

The technology backbone includes a real-time collateral valuation system that updates asset prices every 15 minutes using data feeds from SIBE for equities and SIX BFI for sovereign debt, applying regulator-defined haircut coefficients. Members access services through dedicated institutional platforms — the BME PC backoffice portal and the MEFF Trade Entry platform — integrated with electronic trading venues including SIBE Smart, MEFF Smart, SEND, and SENAF. Through its affiliation with SIX x-clear, BME Clearing extends multi-asset clearing services into Switzerland with pan-European interoperability.

BME Clearing generates revenue through transaction-based clearing fees charged to institutional clearing members across each asset segment. It distributes services exclusively via direct enterprise relationships under bilateral institutional arrangements, operating within EMIR oversight. The entity is preparing for the EU/Switzerland/UK T+1 settlement transition effective October 11, 2027. BME Clearing maintains offices in Madrid (headquarters at Palacio de la Bolsa and Las Rozas), Barcelona, Bilbao, and Valencia, and serves as a strategic clearing infrastructure asset within the SIX Group securities services franchise.

Name

BME Clearing

Legal name

BME Clearing, S.A.U.

Website

https://bmeclearing.es

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

BME Clearing is a Central Counterparty (CCP) clearing house, wholly owned by SIX Group, that provides multi-asset clearing and counterparty risk management services for derivatives, equities, fixed income, energy, and digital assets to institutional clearing members across Spanish and European markets.

Ownership category

akta.pro rank

Product category

Central Counterparty (CCP) Clearing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro industry

PRIMARYFSACAHAC

Clearing Houses / Central Counterparties (CCPs)

Financial & Insurance/Capital Markets & Securities/Securities Clearing, Settlement & Custody

SECONDARYFSAFAFAB

OTC Derivatives CCPs (Swaps)

Financial & Insurance/Financial Exchanges & Market Infrastructure/Clearinghouses / Central Counterparties (CCPs)

SECONDARYFSAFAFAH

Digital Asset / Crypto CCPs

Financial & Insurance/Financial Exchanges & Market Infrastructure/Clearinghouses / Central Counterparties (CCPs)

SECONDARYFSAFAFAF

Commodities / Energy Clearing CCPs

Financial & Insurance/Financial Exchanges & Market Infrastructure/Clearinghouses / Central Counterparties (CCPs)

Keywords

• Central counterparty clearing
• Derivatives clearing services
• Post-trade settlement
• Counterparty risk management
• Securities clearing

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Others

Revenue model

1. Clearing and Settlement Services: BME Clearing generates revenue through transaction fees charged to clearing members for processing trades across multiple asset segments including financial derivatives, equities, repos on public debt, interest rate derivatives, energy, and digital assets. Revenue is derived from the volume of transactions cleared and settled through the central counterparty.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

BME Clearing operates as a Central Counterparty (CCP) within the BME Group (part of SIX Group), providing multi-segment clearing and risk management services across financial derivatives, equities, repos on public debt, interest rate derivatives, energy derivatives, and digital assets. The entity is authorized by CNMV under the EMIR framework and recognized by ESMA, interposing itself as buyer to every seller and seller to every buyer to guarantee transaction fulfillment and reduce counterparty credit risk.

Product overview

BME Clearing operates as a Central Counterparty (CCP) within the BME Group (part of SIX Group), providing multi-segment clearing and risk management services across financial derivatives, equities, repos on public debt, interest rate derivatives, energy derivatives, and digital assets. The clearinghouse is authorized by CNMV under EMIR regulation and recognized by ESMA. The product portfolio includes core CCP services with real-time collateral valuation, clearing for multiple exchanges (EEX, OMIP, MIBGAS, MEFF, ICE), and related platforms for trade entry (MEFF Trade Entry) and backoffice communication (BME PC Portal). Clearing services extend to Switzerland via SIX x-clear. The infrastructure supports T+1 settlement transition effective October 2027.

Differentiator

Problem solved

Functional benefit

Products and services

• BME Clearing (Central Counterparty Services) Central Counterparty (CCP) that manages counterparty risk by interposing between buyer and seller in each transaction, guaranteeing transaction fulfillment and reducing credit risk across multiple asset segments including derivatives, equities, repos, interest rate derivatives, energy, and digital assets.
• Financial Derivatives Clearing Clearing services for financial derivatives traded on MEFF exchange, including options and futures on equities and other underlying assets.
• Equity Clearing Clearing services for equity transactions traded on Spanish stock exchanges (SIBE), providing counterparty risk management for share trades.
• Repo Clearing (Repos on Public Debt) Clearing services for repurchase agreements on government debt securities, enabling liquidity management for public debt positions.
• Interest Rate Derivatives Clearing Clearing services for interest rate derivatives, managing counterparty risk for instruments linked to interest rate movements.
• Energy Derivatives Clearing Clearing services for energy derivatives including futures and swaps on electricity traded on MEFF and bilateral trades through platforms like enmacc.
• Digital Assets Clearing Clearing services for digital asset transactions, providing central counterparty risk management for emerging digital asset markets.

Quantifiable outcome

• 15-minute real-time price updates for collateral valuation using SIBE (equities) and SIX BFI (sovereign debt) data feeds

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• enmacccoreChannel Partner/ Reseller/ Distributor · 30 October 2025enmacc promotes BME Clearing services for energy trading, allowing users to clear bilateral trades on exchanges such as EEX, OMIP, MIBGAS, MEFF, and ICE. The platform provides real-time registration, anonymity, and digital efficiency by acting as an intermediary between traders and exchange clearing houses.
• SIX x-clearcoreTechnology or IntegrationSIX x-clear offers clearing multi-asset services with real-time risk management, high operational efficiency, and pan-European interoperability. BME Clearing references SIX x-clear as a related clearing service in Switzerland.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Others

• SIX x-clear: SIX x-clear is the sister Swiss CCP within SIX Group, providing multi-asset clearing with pan-European interoperability. While not a direct competitor (same parent), it is operationally comparable as a SIX Group CCP and is explicitly referenced in BME Clearing materials.

Direct peers

• Eurex Clearing: Eurex Clearing is the European CCP operated by Deutsche Börse, clearing derivatives, equities, and fixed income across pan-European exchanges. It is the most direct multi-asset competitor to BME Clearing and shares the same EMIR/ESMA regulatory framework.
• ICE Clear Europe: ICE Clear Europe is a London-based CCP clearing energy, agricultural, financial, and credit derivatives across ICE's European exchanges. It is a direct energy-clearing peer to BME Clearing through the bilateral energy trade integration.
• Nasdaq Clearing: Nasdaq Clearing is the CCP arm of Nasdaq Nordic, providing clearing for equities, derivatives, fixed income, and commodities across the Nordic markets. It is a regional European CCP peer with a comparable multi-asset model to BME Clearing.
• LCH (LSEG): LCH is the London-based CCP owned by London Stock Exchange Group, providing clearing across OTC derivatives (SwapClear), equities, fixed income, repos, and commodities. It is one of the largest global CCPs and a direct competitor in European clearing.
• OCC (Options Clearing Corporation): OCC is the world's largest equity derivatives clearing house, clearing options, futures, and securities lending transactions for US exchanges. It is a direct functional peer for equity options clearing alongside BME Clearing's MEFF-listed equity derivatives.
• Euronext Clearing: Euronext Clearing is the Italian-based CCP (formerly CC&G) serving Euronext's pan-European exchanges for equities, derivatives, commodities, and energy. It is a direct multi-asset European CCP competitor with overlapping asset class coverage.

Regional players

• JSCC (Japan Securities Clearing Corporation): JSCC is the Japanese CCP providing clearing for equities, bonds, and derivatives across Japanese exchanges. It is a comparable regional CCP structure in a different geography, serving as a useful analog for cross-asset CCP business models outside the European focus.
• KDPW_CCP: KDPW_CCP is the Polish central counterparty clearing equities, derivatives, and repos on the Warsaw Stock Exchange. It is a regional European CCP comparable in scale and role to BME Clearing within its domestic market.

Broad incumbents

• CME Group: CME Group is the largest global derivatives marketplace operator and CCP, offering clearing across interest rate, equity, FX, agricultural, energy, and metals derivatives. It serves as a broad incumbent reference point for clearing scale and product breadth, though primarily US-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bme-clearing-s.a.u.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BME Clearing