Richard Willsher
Richard Willsher

North America

Two key trends have characterised recent developments in electronic trading across North America’s foreign exchange markets: the rise of the Mexican peso and the need for transparency in order to meet regulatory demands.

First Published: e-Forex Magazine 56 / Regional eFX Perspective / April, 2014

In a continent where the US Dollar rules the roost, the Mexican Peso (MXN) has become a significant traded currency. The latest BIS Triennial Central Bank Survey published in September last year showed that the MXN netted daily turnover in April had roughly doubled since the previous survey from 1.3% to 2.5% of global turnover. Even allowing for incomplete reporting this shows that MXN is now the eighth most traded currency. This may owe something to the volatility of the USD / MXN pair. It may relate to the size of Mexican trade with the US or possibly the amount of wealth now deriving from Mexico and invested into capital markets north of the border. Whatever the reasons Jim Kwiatkowski, global head of transaction sales, Thomson Reuters, says that this shows a market that is continuing to evolve, to open and to adopt electronic trading. “On our Matching platform we have certainly seen an evolution in Mexican peso with a greater number of customers trading the currency and a continued growth in...continued

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