The Mexican financial group is seeking to take advantage of the Libor transition as it rebuilds its interest rates offering.

Monex Grupo Financiero has launched the first ever product in Mexico linked to the CME TERM SOFR 1M Coupon Range. The new interest rate structure which has a term of 184 days is fully protected and will pay six coupons of 5.90% throughout the term. We expect the CME TERM SOFR notes to resonate among our clients as we saw with the TIIE notes -  Alan Huitrón Fernández, Monex The product created by Monex’s Derivatives Desk is the first structure in the Mexican Market &n