Executives for the Bolsa Mexicana de Valores, Mexico City, expect to begin trading futures contracts on the Mexican stock market index Indice de Precios y Cotizaciones as soon as September, said Manuel Robleda, chairman and chief executive of the BMV. The systems and market participants are in place to trade the contracts, but some regulatory details need to be worked out. After the IPC futures will come futures on interest rates and currencies. Then a second phase will bring options to accompany existing futures contracts.
The trading will be done with the assistance of the Chicago Mercantile Exchange and the Chicago Board Options Exchange, which today began trading U.S. dollar denominated futures, futures options, and options on the IPC index.