Mexican Derivatives Exchange

From MarketsWiki
Jump to navigation Jump to search

Mexican Derivatives Exchange (MexDer)
Mexder bmv group.jpg
Founded 1998
Headquarters Mexico City, Mexico
Key People José Miguel De Dios, CEO
Products listed derivatives contracts
Twitter @BMVMercados
LinkedIn Profile

The Mexican Derivatives Exchange (MexDer), known locally as the Mercado Mexicano de Derivados, launched in 1998, offers futures and options contracts on interest rates, stock indexs, currencies and single stock futures.[1] The exchange is owned by parent company Bolsa Mexicana de Valores S.A.B. (BMVSAB), which also owns the Mexican Stock Exchange (MSE) and the clearing house, ASIGNA.

The Mexican Derivatives Exchange ranked 41st among derivatives exchanges by volume in 2018 with 8.3 million contracts traded, down 24.4 percent from a year earlier, according to the annual volume survey published by the Futures Industry Association (FIA).[2]


The Mexican Derivatives Exchange was launched in December 1998 as a fully-automated electronic trading marketplace. [3] MexDer and its clearing house, ASIGNA, are regulated by the Mexican Department of Property and Public Credit (SCHP), Banco de México and the country's National Banking and Securities Commission (CNBV).

MexDer quickly grew the trading volume of its contracts in the first few years of its existence, culminating in a 154% increase from 2005 to 2006 to 274.5 million placing it number five on world rankings for futures exchange rankings that year.[4] [5]

But since then volume at MexDer slipped sharply, with a 30 percent drop in 2009 to 48.7 million contracts, from 70.1 million in 2008, according to FIA Magazine, March 2010 Volume Issue.[6] By 2018, total derivatives volume slid to 8.3 million contracts.[7]

Key Contracts[edit]

Key People[edit]

Annual Volumes[edit]

Year Total Annual Volume Percent Change
2018 8,331,501 (-24.4%)
2017 11,031,286 (-14.8%)
2016 12,940,498 (-23.8%)
2015 16,987,688 (-43.2%)
2014 29,913,972 9.3%
2013 27,358,232 (-)35.8%
2012 42,630,658 (-)8.8%
2011 ~46,700,000 (est.) 9.7%
2010 42,595,575 (-)12.7%
2009 48,780,699 --


CME/MexDer Order Routing[edit]

On March 8, 2010, CME Group and MexDer's parent company, Bolsa Mexicana de Valores, signed an order routing agreement for derivatives. The deal gave the CME a 1.9% equity stake in BMV valued at $17 million as well as a seat on its board. The agreement also named CME Group to be the exclusive provider of order routing to BMV outside of Latin America. [8]

In April of 2011, the CME Group and MexDer announced the first phase of their strategic partnership. This gave Mexican investors access to the CME Group's benchmark derivatives contracts including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.

In early August 2011, MexDer and the CME Group launched phase II of their north-to-south order routing agreement. The partnership enabled customers in the US access to MexDer's benchmark derivatives contracts including the Mexican Stock Exchange Index Futures, bond futures and MXN Peso/US Dollar futures contracts.[9]

That arrangement was suspended however and the partnership to offer joint order routing will end on August 25, 2017.[10]

New Products & Services For MexDer[edit]

On May 17, 2011, MexDer launched two new futures contracts with underlying assets of 5 and 30 year Federal Government Development Bonds (M5 and M30).[11]

On April 20, 2010, MexDer announced they would be providing clearing services for over-the-counter swap products based on interest rates to launch in early May 2010. [12]

The Mexican Derivatives Exchange (MexDer) added a 20-year bond futures contracts denominated in Mexican pesos. The new contracts, which listed June 22 of 2009, allow investors to now hedge Mexican interest rates right across the whole yield curve. 10-year bond futures contracts, previously MexDer's longest denominated interest rate futures on offer, grew about 70% in the year until June 2009, MexDer recently reported.[13]

On December 8, 2009, Asigna and The Options Industry Council signed a licensing agreement to develop an educational program for Mexican investors and financial advisors.[14]