The Mexican Derivatives Exchange’s (MexDer) first foreign member - Timber Hill of the US - is likely to start trading soon on the Mexican exchange following regulatory approval. The company plans to trade futures contracts based on Mexico’s benchmark stock index. Owned by Interactive Brokers, Connecticut-based Timber Hillis the largest equity options market-maker in the US. In March this year Timber Hill became the first foreign company to be granted “remote membership” of the exchange after regulatory changes at MexDer allowed for the entrance of foreign players. MexDer is keen to lure other international firms that trade Mexican derivatives over the counter to become remote members and instead trade via the exchange.
Technorati Tags: Mexico, Mexican Derivatives Exchange, MexDer, Timber Hill, US, Futures contracts, Equity options, Eduardo Bravo Losada, Bravo & Bravo Losada, IGAF, Accountants, CPAs, Investments
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