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Banca March adds BME FX, BME's platform for foreign exchange futures, to its range of corporate services

06 September 2021 Category: Agreements

Banca March has reached an agreement with BME to sign up to BME FX, a platform for xRolling FX currency futures.

  • Banca March has become the first bank to launch BME FX for wholesale clients, responding to companies' needs in the field of forex hedging in regulated markets with BME's new currency futures contract.
  • The bank is offering its corporate clients access to innovative technology and a transparent, user-friendly tool, further consolidating a business model based on responsive, multi-channel advisory services underpinned by technology and unique products.

Banca March has reached an agreement with BME to sign up to BME FX, a platform for xRolling FX currency futures, allowing its corporate clients to access a regulated market with transparent prices using fast, responsive, customised technology. Banca March will be a market maker on the platform. xRolling FX contracts are futures on 17 currency pairs in a multi-lateral market supervised by MEFF, BME's derivatives market.

This initiative is targeted at wholesale clients, large and mid-sized companies, financial intermediaries, fund managers and groups that need to manage exchange rate risk using derivatives. Thanks to this agreement, Banca March will be able to provide clients with a BME FX terminal which they can use to operate directly in the regulated market, featuring official, published prices and transparent fees.

José Manuel Arcenegui, Managing Director of Banca March and Head of the Corporate Banking Area, said: “This step will further cement Banca March's position as the leading bank in corporate advisory services, family businesses and business-owning families, allowing it to support clients in the management of exchange rate risk through a regulated, transparent market. The bank is also making strong headway with its digitalisation strategy, which seeks to enhance Banca March customers' experiences and offer the most innovative services through multiple channels, partnering in this case with the market-leading company BME.”

Banca March: the leading provider of advisory services for family businesses

Banca March has built a unique business model specialising in private banking, wealth management and corporate advisory services, especially for family businesses, as well as boasting the strongest capital adequacy ratio in the Spanish financial system. This business model is underpinned by the very best professionals, who are trained at the Banca March Talent School, the growing use of technology to enhance operations, unparalleled products such as co-investment and a sector-leading position in customer service quality ratings.

In Corporate Banking, the bank's activity focuses on corporates, family businesses and business-owning families, specialising particularly in alternative financing, direct lending, customised treasury solutions and risk hedging.

This bank is currently rolling out an ambitious digital transformation process, geared towards responsive, multi-channel advisory services underpinned by the best technology and exclusive, unparalleled products. Technology and digitalisation are core components of the bank's business model, and are utterly crucial in ensuring Banca March can continue to offer the outstanding quality service that has always been its hallmark whilst responding to the increasing demand for remote banking services. The bank has recently brought in a series of new functions, including online reporting –detailed, easily accessible reporting on the real time performance of savings and investments –, simplified remote product arrangement, the use of cloud-based management tools, encryption using blockchain technology and social media sales solutions, among others.

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