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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.    BME   ES0115056139

BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HO

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European bourses defend coronavirus plans in extreme conditions

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03/26/2020 | 01:10pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

Stock exchanges defended their coronavirus contingency plans on Thursday, saying they are working well under extreme market conditions, after banks questioned their level of preparedness.

"These plans ensure that everything is working satisfactorily, including in the context of 'working from home' protocols, and have been executed on close cooperation with supervisory authorities," the Federation of European Securities Exchanges (FESE) said in a statement.

Stock markets have experienced extreme volatility as investors dump shares in the face of a likely recession, sparking talk that suspensions in trading could be needed.

FESE was responding to a questionnaire from banks that are asking exchanges to spell out their business continuity plans during the epidemic, which has left financial districts around Europe looking like ghost towns.

The Association for Financial Markets in Europe, which is helping to organise the questionnaire, said the information gathered will help its members better understand their plans and preparations.

FESE said that exchanges are supervised continually to ensure they remain robust and reliable across a broad spectrum of scenarios, including a pandemic.

Banks have moved trading to back up sites or homes, raising concerns about connectivity speeds and their ability to provide timely liquidity to form share prices efficiently.

The London Stock Exchange on Thursday announced a waiver in fees in a bid to attract more market makers to bolster liquidity.

FESE said regulators like the European Union's securities watchdog ESMA and national regulators have assessed the preparedness of all market participants to ensure they have robust contingency plans and IT systems, FESE said.

London-based Aquis Exchange said it was operating its platform with all staff away from the office.

"We have been running the exchange remotely for over a week and there is not a single person in the office," said Chief Operating Officer Jonathan Clelland.

By Huw Jones

Stocks mentioned in the article
ChangeLast1st jan.
AQUIS EXCHANGE PLC 0.00% 320 Delayed Quote.-20.40%
BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HOLDING DE MERCADOS Y SISTEMAS FINANCIEROS, S.A. -1.02% 33.06 End-of-day quote.0.00%
CME GROUP INC. -3.88% 166.2 Delayed Quote.-17.20%
DEUTSCHE BÖRSE AG -1.36% 119.5 Delayed Quote.-13.38%
EURONEXT N.V. 0.30% 66.3 Real-time Quote.-8.95%
LONDON STOCK EXCHANGE PLC -3.85% 6794 Delayed Quote.-8.77%
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Financials (EUR)
Sales 2020 296 M
EBIT 2020 165 M
Net income 2020 127 M
Finance 2020 257 M
Yield 2020 4,47%
P/E ratio 2020 21,8x
P/E ratio 2021 21,8x
EV / Sales2020 8,37x
EV / Sales2021 8,40x
Capitalization 2 739 M
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Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 30,57  €
Last Close Price 33,06  €
Spread / Highest target 4,54%
Spread / Average Target -7,52%
Spread / Lowest Target -31,0%
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Javier Hernani Burzako Chief Executive Officer & Executive Director
Antonio Jose Zoido Martínez Non-Executive Chairman
Marta Bartolomé Yllera Financial Director
Francisco Nicolás Tahoces Technology Director
Joan Hortalá i Arau Executive Director