An organized market where public trading of futures contracts takes place. These markets establish, among other things, the rules regarding the type of standardized contract, margin requirements, contract amount, and the method of settling and fulfilling obligations at maturity. The Spanish futures and options market, regulated by the National Securities Market Commission (CNMV), is the official futures market in Spain, where options contracts can also be traded through the Official Spanish Options and Futures Financial Market (MEFF).
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