Trading Technologies International (TT) and Mexican Derivatives Exchange (MexDer) today announced TT will launch a gateway to connect its derivatives trading platform, X_TRADER 7, to MexDer.
The gateway, which is targeted for production release in late 2007, will provide X_TRADER 7 users with the ability to trade futures and options on currencies, indices and single stocks plus futures on interest rates. Specific products include the Mexican Stock Exchange's Price and Quotation Index (IPC) futures and options, the M10 10-year fixed-rate bond futures and the TIIE 28 short-term interest rate futures contract.
Customers will have the option to host their trading gateways or connect to MexDer via gateways hosted by TTNET, TT's fully managed hosting solution. Access through TTNET delivers optimal access, speed and reliability plus 24/7 end-to-end network monitoring and maintenance.
"Record growth and honors like FOW's Emerging Exchange of the Year award are drawing attention to MexDer. We believe our customers will welcome the opportunity to trade the products listed on this rapidly growing exchange," said Harris Brumfield, TT's CEO.
"Since we started our Internationalization project, we realized how important Trading Technologies was for the derivatives Industry. Many clients looking to participate in MexDer encouraged us to develop a business relationship with TT. Today we are delighted to have this relationship and to expand the access to MexDer through this leading platform," said Jorge Alegria, CEO of MexDer.
MexDer was ranked the world's fifth largest futures exchange according to volume in 2006, with nearly 275 million contracts traded. Also in 2006, MexDer's TIIE 28 short-term interest rate futures contract was cited as the year's fastest growing individual futures contract (1).
(1) According to the March/April 2007 edition of Futures Industry Magazine.