CME Launches Mexican Peso Futures, But May Face Competition In Forwards
EXCHANGES
The Chicago Mercantile Exchange's Mexican peso futures launch last Tuesday is deemed a success by both exchange officials and market participants (FXW, March 6). But the contract could face competition from the Banco de Mexico's recent move to create a forward peso market in Mexico, sources say.
The Mexican central bank has begun the initial phases for building a forward peso market having, in the past six weeks, authorised seven banks to trade peso forwards, deputy governor of the central bank
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