CME Group, the US-based derivatives market operator, has implemented a routing agreement with the Mexican Derivatives Exchange (MexDer) that allows US-based investors to trade Mexican futures contracts.
The north-to-south routing agreement gives CME Group clients access to products including Mexican Stock Exchange index futures, bond futures and MXN Peso / US dollar futures contracts.
The latest link complements the first phase of the project installed on 4 April 2011, which gave Mexican investors access to CME Group's benchmark derivatives products including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.
“Mexico is the thirteenth largest economy in the world and we continue to look for opportunities to provide our customers around the world with the broadest and most diverse range of globally-relevant products to help them manage their risk,” said Phupinder Gill, president, CME Group.
“With the successful launch of south-to-north order routing in April, the second phase of the direct order routing connection now makes it possible for both of our customers to leverage access to both MexDer and CME Group, and take advantage of a modern market with a friendly regulatory framework in Mexico and a growing sophisticated local investor base,” added Luis Téllez, Chairman and CEO of BMV Group.
BMV Group – the parent company of MexDer, which also operates the Mexican Stock Exchange – entered into a strategic partnership with the CME Group in March 2010 to explore joint initiatives in product development, marketing and customer education and clearing opportunities.