Mexican financial institution Monex remained the most prolific issuer in Mexico for the first quarter of 2020 despite a 25.6% drop in product issuance during the same period of last year.
The bank’s sales volumes remain strong and increased to US$6.08 billion in Q1 20 from US$2.04 billion in Q1 19. SRP data shows that Monex has 65 live products that are domestically listed. The tranche investments are wrapped as bank deposit certificates and structured bonds, and are all linked to the USD/MXN underlying. The products all fall under the FX rates asset class and are short-term investments lasting under a year. According to the bank’s director of derivatives, Louis de
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