MexDer, the Mexican derivatives exchange, has struck a deal with the Spanish futures and options exchange, Meff, to develop an options exchange in Mexico.MexDer will use Meff's trading system, S/MART, as its options trading platform in Mexico, and the Spanish exchange will also provide training for MexDer personnel, as well as traders, market makers, brokers and investors.
MexDer, launched in December 1998, trades products including US dollar futures contracts, Mexican interest rate futures and options at 28 days, 91-day Certificados de la Tesoría de la República (cetes) government bond futures, and futures on the Mexican Stock Market Index. MexDer also trades futures on individual stocks, including cement company Cemex, telecommunications firm Telefonos Mexicanos, holding company Grupo Carso, and drinks company Femsa.
The contracts initially planned for listing on the Mexican options exchange will be the benchmark index of the Mexican stock market and options on some of the most liquid shares traded.
As part of the deal, the 14-year old Spanish institution will become a shareholder of MexDer, with a 7.5% holding. "By becoming shareholders of MexDer, we take on the challenge of collaborating closely in the development of new products that MexDer will launch for trading,” said Josep Manuel Basañez i Villaluenga, chairman of Meff. “Secondly, a large number of opportunities have emerged for launching products together and in possible tie-ups between the two markets,” he added.
More on Exchanges
Significant global players not on list to join Shanghai Clearing House
Taiex futures set to be followed by other products
New equity options on two exchanges
A collection of articles concerning exchanges in Asia
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.