MEFF is an official secondary market regulated by Spanish laws and under the supervision of the Spanish National Securities Market Commission. MEFF offers trading and central counterparty services for futures and options on IBEX-35 and on stocks. They launched a new Central Counter party (CCP) service for OTC-traded electricity derivatives in March 2011,thereby enhancing liquidity and transparency in the electricity market and contributing to increased control over OTC operations. This measure has been requested by different entities in order to lower systemic risk and increase confidence. The settlement and management of risks and margins for electricity futures will be carried out within MEFF’s current CCP, through the creation of an energy segment called MEFF Power.