Transactions are denominated Applications or Cross Trades when (in the case of options) they are agreed directly between Members, between a Member and his Clients, or between a Member’s different Clients, but outside the trading screens and without MEFF’s intervention from MEFF’s Options Table. In this way, when the members involved wish to register in MEFF for settlement and subsequent maintenance, once registered, they will be on the same level as trades carried out within MEFF.

To be accepted by MEFF these transactions must meet certain requisites in terms of price, said conditions being regulated by circular and supervised from the Options Table.

The Applications for options may also involve applications for futures and, since the initiation of the delta register, also spot applications that will be supervised by MEFF’s Options Table.