BBVA announced an agreement on August 4, 2026, to acquire the remaining 50% stake in Altura Markets, its futures and options brokerage joint venture with French bank Société Générale, pending regulatory approval.

BBVA and Société Générale have held equal parts of Altura Markets since its establishment in 2000. The financial terms and a specific timeline for BBVA’s acquisition of Société Générale’s share have not been disclosed.

Based in Madrid, Altura Markets functions as a listed derivatives brokerage firm. It serves corporate clients, investment funds, and financial institutions across Spain, Portugal, and Andorra. The firm oversees more than €2.5 billion in client collateral and offers comprehensive execution and clearing services across various asset classes, including fixed income, equities, currencies, and commodities.

Upon the deal’s completion, BBVA plans to integrate Altura Markets into its broader group, aiming to strengthen its existing markets services business. The Spanish bank anticipates that institutional clients will benefit from improved access to trading venues and clearing houses, alongside optimized capital and liquidity management. For the first half of 2026, BBVA’s corporate and investment banking (CIB) division reported revenues of €4.251 billion, significantly bolstered by a 26% year-on-year increase in its global markets unit.

Antonio Ordás, head of global markets at BBVA, stated, “This transaction represents a strategic step forward in consolidating a single markets services platform that strengthens our ability to support clients across all of their execution and clearing needs.” Following the acquisition, BBVA confirmed it will continue its collaboration with Société Générale, which is set to provide global clearing infrastructure and routing technology services “over the coming years.”