Current news

• As part of its commitment to innovation, digitalisation and operational transparency, Banca March has formally joined the FXS payment system operated by BME. This rounds out the bank’s comprehensive and simplified currency management services.
• FXS is a payment system that eliminates principal loss risk during the obligation settlement phase, thanks to a Payment versus Payment (PvP) model that ensures simultaneous reciprocal payments between counterparties.
• Banca March continues to consolidate its range of specialised products and services in corporate advisory, with a particular focus on family businesses.

As part of its commitment to innovation, digitalisation and operational transparency, Banca March has formally joined the FXS payment system operated by BME Post Trade Services, a company of Bolsas y Mercados Españoles (BME), which is part of SIX Group AG. This strategic alliance enables the bank to offer its clients a safer, more efficient and transparent foreign currency payment settlement service.

FXS is a payment system compliant with Article 3 of Royal Decree-Law 19/2018 of 23 November, which regulates fund transfer systems through common rules for the settlement or clearing of payment transactions. Its design eliminates the risk of principal loss during the obligation settlement phase, thanks to a Payment versus Payment (PvP) model that ensures simultaneous reciprocal payments between counterparties.

Unlike other systems, FXS does not intervene in transactions nor hold cash accounts for participants. It acts as a neutral third party managing the execution of transfers, ensuring operational security without assuming counterparty risk. The system is overseen by the Bank of Spain, which reinforces its reliability and robustness.

The integration of FXS completes Banca March’s value proposition in foreign currency services. Through a single execution platform, clients—particularly businesses and financial institutions—will be able to:

• Contract currency futures, such as the xRolling FX, a product designed for efficient exchange rate risk hedging.
• Carry out spot foreign exchange transactions with full transparency in pricing and immediate execution.
• Settle international payments with the highest security, thanks to integration with the FXS system.

This convergence of products into a single platform not only simplifies clients’ daily operations, but also improves the efficiency and traceability of transactions, reducing operational costs and associated risks.

"Banca March continues to consolidate its range of specialised products and services in corporate advisory, with a particular focus on family businesses. With this new functionality, Banca March positions itself as a pioneering institution offering a comprehensive solution for foreign exchange management, combining technological innovation, legal security and operational transparency”, said Enrique Sáenz de Santamaría, Treasury Director at Banca March.

José Manuel Ortiz, Head of Securities Services at SIX a.i., stated: “We are delighted to welcome Banca March to the innovative payment-versus-payment (PvP) foreign exchange settlement system, FXS, which offers numerous advantages over bilateral settlement and is designed to improve efficiency and reduce risks associated with currency transactions”.

The alliance with BME and the integration of FXS reinforce Banca March’s commitment to developing advanced financial solutions aimed at delivering real and sustainable value to its clients.