News Release

MexDer to use CME Repository Service for TIIE Swaps

Thu Sep 26 2013

MEXICO CITY, September 27, 2013 - MexDer announced today it will use CME Repository Service to report Swap transactions based on Mexico’s benchmark TIIE interest rate.

Regulatory changes globally are creating important challenges in the way traditional Swap trading takes place.  With this offering, MexDer will provide efficient access to trading, clearing and reporting on this actively traded instrument.

MexDer listed TIIE Swaps last July, and intends to make them available to international participants, including US participants, in the coming weeks – subject to final regulatory approvals. Access to MexDer is available through members of the exchange and through CME Globex® by the order routing agreement which links MexDer with CME Group.

Trading will take place in MexDer while clearing will be performed in Asigna, MexDer’s central counterparty. MexDer will use CME Repository Service and report required transactions, to comply with US and Mexican regulatory requirements.

TIIE Swaps are based on the Mexican 28 day interbanking rate, one of the most relevant interest rate indicators in Mexico, published daily by the central bank and widely used by banks to price, value and trade credit markets in Mexico, hence the size of the swap market related to this important benchmark.

MexDer also has already listed futures contracts on TIIE Swaps, where it expects to see increased activity in the future, when international players and Mexican institutions will benefit from improved hedging strategies while reaching capital efficiencies through the use of margins in a central counterparty.

For more information on the TIIE Swap contract specifications and characteristics please go to http://www.mexder.com.mx/wb3/wb/MEX/contratos_swaps  (English Version)

For more information on CME Repository Service please go to http://www.cmegroup.com/market-data/repository/

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