Mexican peso-denominated, monthly futures contracts based on the Central Bank of Mexico’s Overnight TIIE Funding Rate (F-TIIE)
Mexican Overnight TIIE Funding Rate (F-TIIE) futures bring liquidity and enhanced risk management to Mexico’s short-term funding markets, while also supporting the objectives of the Central Bank of Mexico to develop a domestic funding curve on the F-TIIE rate – an IOSCO compliant, risk-free reference rate based on the highly developed and liquid Mexican repo market.
Complementing CME’s leading cleared OTC Mexican TIIE interest rate swaps market, F-TIIE futures trade alongside SOFR futures and MXN/USD FX futures to offer a comprehensive hedging solution for the short-end of the Mexican curve.
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Features and benefits
Spreading opportunities vs. 28-day TIIE rate
F-TIIE complements the 28-day forward looking rate either by supplementing risk or providing offset that is similar to IBOR/OIS trades in the United States.
Efficient hedge for Mexican Bondes F
F-TIIE futures mirror the underlying rate and the method of coupon calculation of Bondes F, making F-TIIE futures an ideal hedge or overlay for these securities.
Precise hedge for central bank policy
Monthly F-TIIE futures offer an efficient tool for expressing a view or hedging risk around Central Bank of Mexico policy changes.
Creates discounting curve and benchmark for cross currency swaps
F-TIIE futures will help create a curve for domestic discounting of cash flows while also creating a benchmark for trading cross currency swaps vs. SOFR.
Explore this product in depth
Vendor Codes
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F-TIIE FUTURES |
|---|---|
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Outright |
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CME Globex |
TIE |
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Bloomberg |
TEIA |
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CQG, Fidessa, FIS Global, ION, Itiviti, Refinitiv, TT, Vela |
TIE |
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DTN |
@TIE |
Products
Cleared Mexican TIIE Swaps
CME is the global leader in MXN TIIE swap clearing with over 275 participants, 40+ liquidity providers, and cleared volumes out to 31 years.
Trade F-TIIE on CME Direct
A fast, secure, and highly configurable trading front end, CME Direct offers a one-stop shop for accessing F-TIIE futures liquidity across CLOB trading, RFQs, and block negotiation/reporting workflows. The software is offered free of charge to institutional market participants, with real-time market data fee-waivers also available.
Download the F-TIIE futures trading grids
- Right click on the links to each file.
- Save the file as an .XML on your computer.
- In CME Direct, select import view in the main menu.
- Import the grid into CME Direct.
- Under Menu, click on Save Window Layout.
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