CFCL Market guide – Spain

Clearstream Fund Centre (“CFCL”) Market Guides provide key information, in particular in the area of order routing, settlement and asset servicing, on each market where CFCL offers a service. In addition, relevant website addresses are indicated, where more detailed information is provided according to specific needs.

The Spanish market guide is split into 5 sections:

General information;
Market infrastructure;
Regulation;
Settlement process and services;
Asset servicing. 

Further information can be found in the CFCL Client Handbook and in the Spain Tax guide.

Characteristics of the market

• For investment funds securities, Spain is a Register market with a CSD link;
• Exchange-Traded Funds (ETFs) are permitted and can be traded within the Spanish market; 
• Spain have adopted the T2S platform for its settlement processes, this initiative helps align Spain with the broader European effort to harmonize and streamline securities settlement procedures.