MexDer, Mercado Mexicano de Derivados, S.A. de C.V.

What MexDer, Mercado Mexicano de Derivados, S.A. de C.V. does

MexDer, Mercado Mexicano de Derivados, S.A. de C.V., is Mexico's sole regulated derivatives exchange, operating under the corporate umbrella of Grupo BMV (Bolsa Mexicana de Valores) since its establishment in 1999. The exchange provides a centralized, regulated marketplace for trading futures, options, and interest rate swap contracts across underlyings including CETE and Bono M government bonds, TIIE interest rate benchmarks, IPC index, UDI, individual equities, ETFs, currencies, FIBRAS, and commodities. MexDer serves domestic financial institutions (banks, brokerage houses, intermediaries) operating as Trading Members and Clearing Members, institutional investors such as pension funds and insurers, accredited professional and amateur traders, and — since 2024 — foreign financial institutions accessing the venue directly via the MexFix remote access platform.

The exchange's technological backbone is the MexFix platform, a FIX (Financial Information eXchange) protocol version 4.4-based system that enables direct connectivity between member front-ends and MexDer's Central Trading Systems. MexFix supports order entry, real-time market data distribution, pre- and post-trade risk control gateway filters, and drop-copy audit functionality. Supporting infrastructure includes the SiM web-based market information system, SIBOLSA price monitoring application, an Equinix Point of Presence in New Jersey for international connectivity, and Excel-based bond calculators. Clearing and settlement are handled by the affiliated ASIGNA clearinghouse, which acts as central counterparty managing margins, position limits, and contract settlement. Personnel accreditation is governed through AMIB certification requirements with defined score thresholds.

MexDer's business model is transaction-fee based, deriving revenue from trading fees charged to members on executed contracts and clearing fees collected by Asigna. Market data feeds and information services (SiM, Programmable Database delivery) constitute secondary revenue streams with published pricing lists and subscription or usage-based billing. Go-to-market is enterprise and B2B in nature, with access distributed exclusively through certified Trading Members and Clearing Members; the exchange does not onboard retail end-customers directly. Distribution is amplified by certified ISVs, vendors, and the Mexican Stock Exchange School (Escuela Bolsa Mexicana) for educational outreach. The combination of regulatory monopoly status, embedded ecosystem of intermediaries, and the BMV parent group provides revenue stability but constrains organic growth without international participation.

Name

MexDer, Mercado Mexicano de Derivados, S.A. de C.V.

Legal name

MexDer, Mercado Mexicano de Derivados, S.A. de C.V.

Website

https://mexder.com.mx

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

MexDer is Mexico's sole regulated derivatives exchange, offering futures, options, and swap contracts on interest rates, currencies, equities, and commodities to domestic and international financial institutions via Trading Members and the MexFix FIX-protocol platform.

Ownership category

akta.pro rank

Product category

Derivatives Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Interest Rate Futures & Options Exchanges (FSAFABAB)

akta.pro secondary industries

FX Derivatives Exchanges (Currency Futures & Options) (FSAFABAC), FX Derivatives (Forwards, Options, NDFs) (FSACADAC)

Keywords

• Derivatives exchange
• Futures contracts
• Options trading
• Interest rate swaps
• FIX protocol trading

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Others

Revenue model

1. Trading and Clearing Fees: Revenue generated through trading fees charged to members for executing trades, combined with clearing fees from Asigna clearinghouse. Transaction-based model tied to volume of derivatives contracts traded.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

MexDer operates as Mexico's sole regulated derivatives exchange, providing centralized trading of futures, options, and swap contracts on interest rates (CETE, TIIE, M Bonds), currencies, equities (IPC, stocks, ETFs, FIBRAs), commodities, and inflation (UDI). Trading is executed electronically via the MexFix platform using FIX 4.4 protocol, with clearing and settlement handled by the associated Asigna clearinghouse.

Product overview

MexDer operates as Mexico's primary derivatives exchange, offering a platform of three core product categories: Futures Contracts (covering CETE, Bonds, Currency, IPC, UDI, Stocks, Commodities, FIBRAS, TIIE), Options Contracts (on Commodities, Stocks, IPC, ETFs, Currency, FIBRAS), and SWAPS Contracts (interest rate swaps). The exchange infrastructure includes the MexFix remote access platform (using FIX protocol 4.4) for member connectivity, the SiM web-based trading information system, Market Data Feed services with Equinix connectivity, the SIBOLSA price monitoring application, and programmable database delivery services. Supplementary tools include bond and TIIE calculators. The clearing and risk management functions are handled by Asigna, the clearinghouse.

Differentiator

Problem solved

Functional benefit

Products and services

• Futuros (Futures Contracts) Exchange-traded futures contracts covering CETE, M Bonds, currency pairs, IPC index, UDI, individual stocks, commodities, FIBRAs, and TIIE interest rate benchmarks. Traded by Trading Members for hedging and speculative purposes.
• Opciones (Options Contracts) Exchange-traded options contracts on Commodities, Stocks, IPC index, ETFs, Currency, and FIBRAs, available to Trading Members and their clients.
• SWAPS Contracts Interest rate swap contracts traded on the Mexican Derivatives Exchange, cleared through Asigna.
• MexFix Remote Access Platform Remote access platform using FIX 4.4 protocol that enables Trading Members to connect their proprietary or third-party trading systems directly to MexDer's Central Trading Systems. Supports order entry, real-time market information, and trade execution for domestic and foreign financial institutions.
• SiM (Sistema de Información de MexDer) Web-based online system providing historic and intraday trading information from MexDer for market surveillance and reporting, offered as a subscription service.
• Market Data Feed Complete real-time and historical market data feed service providing all MexDer trading information, with usage-based pricing tiers for vendors, trading members, and financial institutions, distributed via Equinix connectivity.

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• ASIGNA (Cámara de Compensación y Liquidación)coreStrategic or Co-development PartnerAsigna serves as the clearinghouse and central counterparty for all trades executed on MexDer. It handles margin requirements, position limits, and settlement of contracts. MexDer provides links to Asigna's clearing fees, margin requirements, and internal regulations on its website.
• AMIB (Asociación Mexicana de Instituciones Bursátiles)coreStrategic or Co-development PartnerAMIB is the Mexican Association of Securities Intermediaries that certifies trading personnel. MexDer requires personnel accreditation through AMIB certification with minimum score requirements (600 points general average, 750 points in derivatives module, 600 points in ethics).
• Bolsa Mexicana de Valores (BMV)coreStrategic or Co-development PartnerBMV is the Mexican Stock Exchange and parent company of Grupo BMV. MexDer operates under the Grupo BMV umbrella. MexDer links to BMV resources including the Code of Ethics and Conduct, Anti-Corruption Policy, and the Mexican Stock Exchange School.
• INDEVALsupportingOthersINDEVAL (Institución para el Depósito de Valores) is the securities depository in Mexico, referenced as part of the Mexican financial market infrastructure.
• VALMERsupportingOthersVALMER is referenced as part of the Grupo BMV ecosystem of financial market services.
• SIFsupportingOthersSIF is referenced as part of the Mexican financial market infrastructure ecosystem.
• EquinixsupportingTechnology or IntegrationEquinix provides data center connectivity services with a Point of Presence (PoP) in New Jersey for market data access. MexDer offers connectivity through Equinix facilities for international market data distribution.
• SIBOLSAsupportingTechnology or IntegrationSIBOLSA is a market data platform providing price monitoring of the Local Derivatives Market with technical and fundamental analysis capabilities. Referenced as a market data solution for traders and investors.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Intercontinental Exchange (ICE): Global exchange operator and clearinghouse owner with energy, agricultural, equity, and rates derivatives franchises. Compares to MexDer as a listed-derivatives venue, though with much broader asset scope and ownership of clearing infrastructure.
• CBOE Global Markets: US-listed exchange operator with leading options franchises (equity index, ETF, VIX). Comparable to MexDer as a listed-derivatives venue, though more options-focused and lacking interest-rate/FX futures.

Direct peers

• MEFF (BME / Bolsas y Mercas Españolas): Spain's regulated derivatives exchange offering equity index, single-stock, and interest rate derivatives. Comparable to MexDer as a national-level derivatives venue operating under parent exchange group governance (Six/BME).
• Singapore Exchange (SGX): Asian exchange offering equity derivatives, FX, and commodities. Comparable to MexDer as a smaller jurisdiction-specific derivatives venue that has invested in cross-border access and international liquidity.
• CME Group: The world's largest derivatives exchange operator. Compares to MexDer as a multi-asset listed derivatives venue offering interest rate, FX, equity index, and commodity futures/options — though with global rather than national scope.
• Deutsche Börse (Eurex): Operates Eurex, one of Europe's leading derivatives exchanges offering fixed-income, equity index, and FX derivatives. Similar business model to MexDer as a regulated exchange monetizing trading and clearing fees on standardized contracts.
• B3 (Brasil, Bolsa Brasil Balcão): Brazil's primary exchange operator running listed equities, fixed income, and derivatives (including currency, interest rate, and equity index futures). Closest emerging-market comparable to MexDer as a LatAm multi-asset regulated venue.
• ASX (Australian Securities Exchange): Australia's primary exchange operating listed derivatives on interest rates, equity indices, and commodities. Comparable to MexDer as a multi-asset national derivatives venue owned by its stock exchange group.
• Korea Exchange (KRX): Korean exchange offering KOSPI 200 options/futures and currency derivatives. Comparable to MexDer as a regulated single-jurisdiction multi-asset derivatives venue that has built a deep liquidity franchise.

Regional players

• Bolsas y Mercados Argentinos (BYMA): Argentina's primary securities and derivatives exchange operator. Comparable as a LatAm regional exchange facing similar currency-driven product design and emerging-market macro dynamics, though smaller and less focused on derivatives than MexDer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BMVMercados
• YouTubeyoutube.com/@bolsamexicanadevalores
• LinkedInlinkedin.com/company/mexder-mercado-mexicano-de-derivados-s.a.-de-c.v.

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MexDer, Mercado Mexicano de Derivados, S.A. de C.V.