We inform all users and Participants of CIMD OTF that a slight modification has been made in paragraph 3 of section 1 of Circular 2, changing the condition of incorporation for American entities. The new text is as follows:
For derivative segments, US legal persons / entities may not become the status of Participant unless they have the consideration of ECP (Eligible Contract Participant) under the criteria in the CEA (Commodity Exchange Act).
Given that the aforementioned modification does not imply any change in the operational or functional mode of any of the segments that make up CIMD OTF, the new Circular has been published on the web CIMD OTF and will take effect as of today, March the 1st, 2019.
With the aim of facilitating the notification process for the 2020 exercise of the Auxiliary Activity exception (art. 139.1.j of the Securities Market Law) by the entities that can benefit from it and that have derivatives operations of commodities in CIMD OTF, we make available to the Participants information published by CNMV about it through the following link
The CIMD Group has always been distinguished by its commitment to offering professional clients integrated investment services, so that its various investment services companies can meet the needs of any client. CIMD, Sociedad de Valores, SA (hereinafter, CIMD, SV) is a fundamental part of the Group's structure and it has specialised in providing investment services to professional services and eligible counterparties in accordance with MiFID II criteria.
In order to be able to continue providing our services in connection with the entire range of financial instruments we have worked with for years, CIMD, SV has created CIMD OTF as a trading hub with the technical and human resources to comply with applicable regulations, and particularly SOC and OTF requirements under Article 20 of MiFID II. Details of its operating structure and procedures are contained in the Regulation and Circulars governing the activity of OTFs, available in the CIMD OTF Rule Book.
"Quarterly report on transaction execution quality"
CIMD OTF, from an operating standpoint, is structured into three separate segments, in each of which a series of instruments can be traded exclusively.
Fixed Income Segment.
Commodity Derivatives Segment.
Other Derivatives Segment.