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Mexican Derivatives Exchange

Mexican Derivatives Exchange. March, 2008. What happened in 2007??. We are a modern Exchange. USD collaterals. Omnibus Accounts. CFTC Approved products. Remote Membership. Electronic Access - MexFix. No Withholding Taxes. TIIE Swap VS TIIE Futures. TIIE Swap, Very liquid in the OTC.

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Mexican Derivatives Exchange

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  1. Mexican Derivatives Exchange March, 2008

  2. What happened in 2007??

  3. We are a modern Exchange USD collaterals Omnibus Accounts CFTC Approved products Remote Membership Electronic Access - MexFix No Withholding Taxes

  4. TIIE Swap VS TIIE Futures • TIIE Swap, Very liquid in the OTC. • September 2007 - 10 Year TIIE Swap Futures launching. • 1000 Times larger than Individual TIIE Future Contracts. • More precise hedging. • Easy monitoring and administration process. Credit lines, security, transparency. Anonymous Market. Position Netting. Transaction Margins and costs.

  5. 28-Day TIIE Future Less volume in the TIIE… ?? ?

  6. TIIE Swap Future Lets take closer look… ! ! !

  7. TIIE Future + TIIE Swap Future Contracts A closer look… ! ! !

  8. Total (contracts) 21,440 Percentage of the Open Interest Source: Asigna Trading & Clearing Members Institutional Other participants 10-Year Bond Futures Contracts • Great for arbitrage = T-note future vs M10 Bond • Volume increase in 2007 = 150% • Long term interest rate benchmark in Mexico. (ADV) 150%

  9. Trading & Clearing Members Institutional Other participants IPC Index Future Contracts • The IPC is a capitalization Index and the leading indicator of the Mexican Stock Exchange performance. • CFTC approved product. • Algo traders in place. • Volatility and liquidity. (ADV) Percentage of the Open Interest Source: Asigna

  10. Options on the IPC Index Future (ADV)

  11. IPC: Historic Volatility

  12. Volatility Index Mexico (VIMEX) vs VIX

  13. Coming up for 2008… Based on the new favorable legal and Tax framework, we plan to launch Individual Stock Options Contracts on: • CEMEX (CX): One of the largest Cement producers of the world • TELEVISA (TV): The largest media company in the Spanish speaking world. • FEMSA (FMX): Coca-Cola and Beer Bottler in Mexico. • TELMEX (TMX): Local and long distance telephone services, internet and broadband access throughout Mexico. • WALMEX (V MM); Wal-Mart of Mexico These names, plus AMERICA MOVIL (AMX) already listed represents a fair sample of the Mexican Equity market, and more than 65% of the Bolsa Index. Liquidity on the underlying stocks, in Mexico and in NYSE through ADR’s.

  14. Market Participants 2007 • 5 Clearing Members • 29 Mexican Trading Members • 2 Non Mexican Trading Members • 23 Market Makers • + 7 Omnibus Accounts

  15. Market Participants 2008 • 5 Clearing Members • 34 Mexican Trading Members • 7 Non Mexican Trading Members • 24 Market Makers • + 13 Omnibus Accounts

  16. Members

  17. API / FIX Access • MexDer provides Access via the Financial Information eXchange (FIX) protocol. Certified ISV’s: ISV’s currently testing:

  18. It’s easy to participate! • As an Omnibus Account. • Handling costumer accounts through a Trading Member or a Clearing Member. • As a Client. • Proprietary Trader as a costumer of a Trading Member. • As a Remote Member. • Non-Clearing Remote Membership with direct access to the trading system.

  19. Contact Us! It’s never been so easy…. From the US: 1 866 MEXDER1 Berenice Corral From the rest of the world: bcorral@mexder.com (5255) 5342-9999 (5255) 5342-9930 The leading Marketplace for trading derivatives on Mexican benchmarks

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