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SENAF was initially constituted as a Sociedad Anónima (joint stock company), becoming on 28th May 1999 a Stock Agency (Agencia de Valores). The Governing Bodies of the market considered this legal status appropriate for the operation of SENAF. SENAF attained as a result the condition of an investment society with European passport, which allows it to offer with guarantees investment services in the European Union. On 3rd August 2000, the Shareholders' General Universal Meeting approved the changing of the company name from Infomedas, Agencia de Valores, S.A. into Sistema Electrónico de Negociación de Activos Financieros, Agencia de Valores, S.A. (SENAF,A.V.,S.A.). The Spanish Cabinet Meeting of 23rd February 2001 agreed to grant SENAF the category of Organised Trading System (S.O.N., Sistema Organizado de Negociación), which confers on it the faculty of self-regulation in its initiatives within the framework of the stock markets. As from July 22nd 2009, SENAF has changed from OTS (Organized Trading System) to MTF (Multilateral Trading Facility) in order to adapt to the Stock Exchange Law modified by the MIFiD directive.
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