Mercado Mexicano de Derivados’s order routing deal with CME Group will aim to match that of its neighbour BM&F Bovespa’s, MexDer CEO Jorge Alegría has told FOi.
Yesterday (March 8), CME Group announced that it had signed a strategic partnership agreement with MexDer’s parent, Bolsa Mexicana de Valores, which includes an order routing agreement for derivatives. Order routing between the exchanges is due to begin next year.
CME has acquired a 1.9% equity stake in BMV, valued at $17m, as well as a seat on its board. Barclays Capital is acting as financial adviser to CME on the deal. The Chicago-based group will become the exclusive provider of order routing to BMV outside Latin America.
The two exchange groups first held talks “of a preliminary nature”...