Miguel Ángel Herrero Alvite

Degree in Mathematics from the UAM, Executive Master in Quantitative Finance from the School of Applied Finance and Master in Telecommunications Management and Communication Technologies from the School of Industrial Organization. He has worked since 1998 at the CNMV where he is responsible for the authorization and supervision activities of the EMIR obligations.


  • University degree in Science (Mathematics). Universidad Autónoma de Madrid.
  • Master Executive in Quantitative Finance. Escuela de Finanzas Aplicadas (EFA/AFI).
  • CFA Charterholder. CFA Institute.
  • FRM. Global Association of Risk Professionals.
  • Master in TIT Management. EOI.

Areas of Interest 

  • Securities Markets
  • Risk Management
  • Derivatives
  • Financial Regulation


Miguel Ángel Herrero Alvite has a University degree in Mathematics from the Universidad Autónoma de Madrid, an Executive Master's degree in Quantitative Finance from the Escuela de Finanzas Aplicadas and a Master's degree in TIT Management from the Escuela de Organización Industrial. He also holds the CFA designation from the CFA Institute and the FRM designation from the Global Association of Risk Professionals.

He has worked at the CNMV since 1998, where he has served in several capacities. Currently, he is responsible for the authorization and supervision activities related to the obligations of EMIR (European Market Infrastructure Regulation) in the Secondary Markets Department. He also carries out duties connected with advising and participating in the development of regulations on derivatives markets and market infrastructures. It coordinates the activities of the college of the Spanish central counterparty BME Clearing and the participation of the CNMV in other colleges for the supervision of central counterparties in Unión.

In the past, he has played various roles related to the monitoring of securities markets, listed companies and trading participants, the review of the functioning of market infrastructures, the analysis, assessment and evaluation of risks of financial instruments, and the review of draft regulations related to the Spanish securities markets.

He is a member or has participated in a number of international groups both at the European and global levels. Some of these include the following:

European Securities and Markets Authority (ESMA):

Post-Trading Standing Committee / CCP PC y SC: ESMA's permanent committees in charge of drafting regulations on post-trading and on CCPs.

International Organization of Securities Commissions (IOSCO):

Committee 7 on Derivatives: IOSCO's standing committee in which regulatory issues related to derivatives and commodity markets are discussed.


Participation in the Steering Group. Permanent group that guides the activities of CPMI-IOSCO.

European Commission/Council

Member of the groups of national experts that advise the European Commission and the European Council on matters related to derivatives and market infrastructures and support to the representation of the CNMV in such forums in matters related to MIFID, MiFIR, MAD, MAR, etc.

Technical Committee of Regulators of MIBEL.

Providing support to the Technical Committee of Regulators of the Iberian Electricity Market.

International collaboration projects.

He has been advisor to the Colombian Superintendence of Securities as an expert in regulation and supervision of market abuse in the context of the USAID Colombia Productiva project and advisor to the Colombian Superintendence of Finance as an expert in central counterparties in the context of the USAID MIDAS project.