What is AIAF?

AIAF Fixed Income Market is the Company that manages the fixed income and corporate debt market in Spain. As such, it offers the entire corporate business and financial sector, as well as the Autonomous Communities, Local Corporations and Public Companies, the possibility of obtaining funding through the issuance of a wide range of fixed-income instruments which, in turn, can be traded on said Market through the Financial Institutions that are Members of the same.

Over the last few years this market has become quite large and is now a key player in the Spanish financial industry, with over 227 billion euros per year in new listings and 380 billion euros in yearly trading. Currently, its outstanding balance is over 225 billion euros.

As an Official Organised Market, AIAF enjoys a singular privilege in Europe, specialised in fixed-income instruments, with a defined structure and its ability to give transparency and liquidity to the assets that are listed and traded in it.

Currently it has around a hundred members, which represent practically every single Bank and Savings bank, Spanish Brokerage House and International Investment Banks that operate in Spain.

AIAF forms part of Grupo mF (MEFF-AIAF-SENAF), which in turn has been integrated, along with the Spanish Stock Exchanges and the Clearing and Settlement System – Iberclear – in the Holding Bolsas y Mercados Españoles (BME).

AIAF Fixed Income Market grew more than ever in 2003. especially in its primary market segment where it listed more than 227,845 million euros and grew 59.8% compared to 2002.

The secondary market registered a growth of 43.5% compared to the previous year with a volume of 380,193 billion euros, and traded an average of over 1.50 billion euros daily, 99.7% over the previous year, with a trading volume of 69,375 billion.

Mortgage-backed bonds registered a record high trading volume of 21,028 billion euros, 397.7% more than in 2002.