Shareholders' Assembly
This
is the highest body of the company, and its legally-adopted resolutions
are binding on all its shareholders.
Board
of Directors
The
body in charge of the administration of MexDer, made up of regular
members and their respective alternates.
Committees
The
Board of Directors is supported by various committees for addressing
and resolving matters of specific nature described in the prudential
rules and provisions issued by the financial authorities, as well
as in MexDer´s bylaws chart and internal regulations. These Committees
are:
•
Executive Committee.
•
Admission and New Products Committee.
•
Compliance and Ethics Committee.
•
Auditing Committee.
•
Discipline and Arbitration Committee.
•
Certification Committee.
•
Clearinghouse Committee.
•
Promotion Committee.
Market
Participants
Participants
in MexDer may be brokers or clearing members.
Brokers
Brokers
are corporations authorized to trade Contracts in MexDer´s Electronic
Trading Systems, acting as brokers for one or more Clearing Members.
Clearing
Members
Clearing
Members are trusts that participate as shareholders of MexDer and
contribute to Asigna´s capital; their purpose is to settle and,
when applicable, trade Futures and Options contracts in MexDer on
behalf of clients. For this purpose, they must be able to meet the
financial, credit and operating requirements established in the
regulations applicable to the derivatives market. Clearing Members
have their own capital, they specialize in the evaluation of counterpart
risk, manage guarantees and, in order to avoid conflicts of interest,
they keep proprietary accounts completely separate from third-party
accounts.
Market
Makers
Financial
Institutions that have been approved by MexDer to act as such, and
which must, on an on going basis and for their own accounts, maintain
bid and ask quotes for Futures and Options contracts, regarding
the Class for which they are registered, in order to promote their
trading.
Certification
of Personnel
To
guarantee that the personnel of its members have the necessary technical
knowledge in the field of derivative products, as well as training
in the Professional Code of Ethics of the Mexican Securities Community,
MexDer has delegated the responsibility of applying certification
exams to the Mexican Securities Industry Association (AMIB). These
exams are held in accordance with the guidelines established in
MexDer´s Internal Regulations and Manual of Policies and Procedures.