Market practices in Spain

Spain
Name of National Central Bank Banco de España
Phone number of the CCBM unit + 34 91 33 86 220
Fax number of the CCBM unit + 34 91 33 86 019
email ccbm@bde.es
Foreign counterparties’ contact for credit claim related issues Ope.garantias@bde.es
+ 34 91 33 86 151
Publications describing local legal and operational procedures Technical Applications (available in Spanish, www.bde.es)

Legal and Procedural Aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) n.a.
Procedural aspects governing a pledge towards the NCB and legal documentation used (if applicable) Applicable Spanish legal rules (Technical Applications, available in Spanish, www.bde.es)
Specific procedures governing non-marketable assets Terms and conditions (direct link https://www.bde.es/f/webbde/SPA/sispago/ccbm/ficheros/es/Termsandconditions.pdf

Technical Aspects IBERCLEAR – (ARCO) BANCO DE ESPAÑA
Type of eligible assets held Public and private debt securities
Equities and other assets traded in the Spanish Stock Market
Non-marketable assets (credit claims) (only pledge operations)
Opening hours Iberclear participates in T2S and follows the T2S calendar and Business Day schedule 7:00 – 18:00 CET
Number of settlement cycles per day Real time settlement n.a.
BIC of SSS(s) IBRCESMMXXX ESPBESMMCCB
Account of NCB in the SSS n.a. n.a.
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement details The matching of operations takes place automatically at the SSS, on the basis of the following information:
  • Custodian code
  • ISIN code
  • Amount of the assets
  • Trade date
  • Settlement date
  • Type of operation
  • To ensure a correct matching instruction, counterparties should use the additional matching field offered by T2S. Especially please use:
    Opt/Out :22F::STCO//NOMC
 
Special Operating Procedures n.a. As described in the Annex of the brochure
Homepage of SSS www.iberclear.es www.bde.es