Since MEFF introduced trading in stock futures, Basis trading through the Options Desk is usual. This consists of simultaneous trading of the futures contract and its underlying asset, quoted as the difference between one price and another.

The requesting Member asks for a quote and MEFF’s staff transmit this request to the Market Makers. The trading is similar to that of any strategy or combination. Once the trade is done, MEFF registers the futures and, if the participants in the trade so decide, also the spot trade (Delta Register Facility), the difference between the price of the futures and the spot price will be the price of the Basis Trade.