The Mexican derivatives market, MexDer, is preparing to open an options exchange by January or February 2004, initially with one contract.
In June, MexDer announced that it was teaming up with Spain's derivatives market, Meff, to launch an options market in Mexico. At that time, the exchanges said the process could take up to 18 months.
The first options contract will be the Mexican Bolsa equity index, because it is the simplest product, according to Jorge Alegria, general director at MexDer. "The product will be launched once Meff's system is adapted. We want to launch options almost...