CME Group and the Mexican Derivatives Exchange (MexDer), the derivatives subsidiary of the BMV Group, have successfully launched their north-to-south order routing agreement, giving customers in the US access to MexDer’s benchmark derivatives contracts, including Mexican Stock Exchange Index Futures, Bond Futures and MXN Peso/US Dollar Futures Contracts.
The first phase of CME Groups strategic partnership with MexDer went live April 4 and gave Mexican investors access to CME Groups benchmark derivatives contracts including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.
“Mexico is the 13th 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,” says Phupinder Gill, CME Group president. “This next phase of the partnership demonstrates how we continue to build on our successful track record of growing our business internationally through strategic partnerships.”
Luis Tellez, chairman and CEO of BMV Group, adds: “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. Our goal moving forward is to focus on increasing our volumes together and working more closely with each other to learn how we can meet the needs of our customers.”
In March 2010, the parent company of MexDer, BMV Group and CME Group entered into a strategic partnership that includes order routing for derivatives products as well as an agreement to pursue potential joint initiatives including product development, marketing and customer education as well as clearing opportunities.
(CM)