CME And MexDer Announce North-South Order Routing Agreement
Thursday, August 04, 2011
On August 1, CME Group and the Mexican Derivatives Exchange (MexDer), the derivatives
subsidiary of the BMV Group and second largest exchange in Latin America, announced
the successful launch of 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 Group’s strategic partnership with MexDer went
live April 4, 2011 and gave Mexican investors access to CME Group’s 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," said 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."
"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," said Luis Tellez, Chairman
and CEO of BMV Group. "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.
CME Group is the exclusive exchange provider of derivatives order routing services
to MexDer outside Latin America, and MexDer is the exclusive exchange provider
of derivatives order routing services to CME Group in Mexico.
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