The idea behind the launch of the CMS 26X1 TIIE28 Coupon Range structure comes from the success Monex had last year with interest rates-linked structured products.

The Mexican issuer's activity in 2023 was again dominated by FX trades but interest rates saw a revival and gained more visibility after a quiet period. The product bids on leveraging the high volatility of a specific curve node to be able to pay a higher coupon, an above market coupon -  Alan Huitrón Fernández  "Interest rates-linked products represented 10% of our issuance in 2023. The impact of these products on the overall sales volume was very positive," Alan Hui

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