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Heat 1 tsp olive oil in a saucepan and gently cook the chopped shallots for 2 mins until soft but not coloured. Pour in the cream, bring it to a simmer, then reduce by about half. The cream will look like a thick sauce at this point. Stir in the chives.
Heat grill to high. Brush the remaining olive oil over the bread and grill on both sides until toasted. Top each slice with some tomato, then cheese, then Serrano ham, and finally spread over about 1 tbsp of the thickened cream to cover the ham. Place back under the hot grill until the cream starts to colour and glaze and the cheese has begun to melt. Serve with rocket leaves scattered over the top.