Mexico: Monex rolls out floating rate note, bolsters market lead

Monex Group has launched the CD Flotante Double No Touch, a new certificate of deposit tied to the USD/MXN currency pair, which also includes the TIIE de Fondeo (Funding Interbank Equilibrium Interest Rate of Mexico) as an underlying reference. The additional reference to the TIIE de Fondeo rate is a new characteristic of the structure. “With this new reference to TIIE de Fondeo, the idea is to expand the catalogue of notes and give clients one more alternative, we will continue to have