Mexican Peso/U.S. Dollar Futures

Mexican Peso Q4 ADV of 54,931 up 3% vs Q3 2019 ADV

Key Macro Facts

Mexico is the second largest economy in Latin America, and 15th largest economy in the world with nominal GDP of $1.2 trillion in 2019. Mexican economic growth is expected to decline to 0.8-1.8% in 2020 but is forecast to rebound to 1.3-2.3% in 2021. Recent inflation numbers remain in line with the Bank of Mexico’s 3% target, which should bolster expectations of further interest rate cuts in a stagnant economy. The Mexican peso, which is the 15th most traded currency in the world based on the 2019 BIS Triennial Survey, serves as a stronger indicator of trade sentiment, hence ongoing stresses in global trade sentiment could impact the peso. Although the Mexican peso benefits from high local interest rates and a central bank dedicated to currency stability, a weaker peso could result from faster than expected rate cuts by the central bank.

Key Stats

  • MXN average daily notional in December of $1.7 Billion (ADV 67,107)
  • Number of large open interest holders in MXN peso of 178 in December 2019 up 39% vs December 2018
  • MXN peso 2019 futures average open interest of 242,464 up 28% vs 2018
  • December 2019 ADV of 67,107 up 42% vs November 2019

Key Features

  • Tight bid-ask spreads across all trading hours by dedicated market makers providing liquidity across all time zones.
  • Manage MXN peso FX forward and swap exposure through CME FX Link, the first electronic spread connecting the OTC FX and FX futures market.

Key capital efficiencies and margin offsets:

  • 30% savings with Brazilian Real (BRL/USD), Canadian Dollar (CAD/USD) and South African Rand (ZAR/USD)

MXN/USD ADV and Open Interest

Be Part of the Trend and Trade Mexican Peso Futures at CME Group

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Standard contract

Globex: 6M                 Bloomberg: PEA            Reuters: 0#MPSS:

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CME is eliminating the current spot month position limit of 45,000 contracts in MXN futures and options, effective trade date Monday, November 4, 2019 commencing with the December 2019 contract month and beyond. 

With the continued success and development of the MXN/USD futures and options markets, active market participants, who have accumulated large positions prior to contract expiration, will now find it easier from an execution and operational standpoint to roll their futures and options positions forward in time prior to the cessation of trading in an expiring MXN future without having to worry about meeting spot month position limits during the last four trading days of a contract expiration.

Reduce Risk and Manage Uncleared Margin Rule Changes

CME Group offers position-netting and capital and margin efficiencies with cleared OTC (including NDFs) and listed FX:

55 Futures, 24 Options, 26 CSFs and 12 NDFs.

Get Connected To The World’s Largest Regulated FX Marketplace

$100B of daily FX volume and the firm liquidity you need to manage FX risk – from rupee to rand.


Contract Specifications

Contract Unit 500,000 Mexican pesos
Trading Hours CME Globex: Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday – closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort: Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday – closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
Minimum Price Fluctuation $.00001 per Mexican peso increments ($5.00/contract).
Product Code CME Globex: 6M
CME ClearPort: MP
Clearing: MP
Listed Contracts Thirteen consecutive calendar months plus 2 deferred March quarterly cycle contract months
Settlement Method Deliverable
Termination Of Trading 9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).
Settlement Procedures Physical Delivery
Mexican Peso Futures Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 256
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Contract Unit One futures contract for 500,000 Mexican pesos
Minimum Price Fluctuation 0.00001 per Mexican peso increment = $5.00
Price Quotation U.S. dollars and cents per Mexican peso increment
Trading Hours CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET).
Open Outcry: 7:20 a.m. – 2:00 p.m. Central Time (CT)
Product Code CME Globex: 6M
CME ClearPort: MP
Open Outcry: MP
Clearing: MP
Listed Contracts Monthly contracts listed for 12 consecutive months
Settlement Procedures Option on physical delivery futures contract
Termination Of Trading Trading terminates at 9:00 a.m. CT on the second Friday prior to the third Wednesday of the contract month.
Position Limits CME Position Limits
Exchange Rulebook CME 256A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Exercise Style European style. Auto-exercised against CME Group FX Fixing Price; no contrary instructions allowed.
In-the-money (ITM) strikes exercised. Out-of-the-money (OTM) strikes abandoned.
An option is ITM if the CME Group FX Fixing Price for the underlying futures contract is equal to or above the strike price in the case of a call or below the strike price in the case of a put.
Settlement Method Deliverable
Underlying Mexican Peso Futures

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