The Working Group on Alternative Reference Rates in Mexico is a representative forum for participants from both the public and private sectors which aims to encourage and promote the adoption of the new near-risk free rate, known as the Overnight TIIE Funding Rate.

The Working Group is composed by members that represent the different sectors of the Mexican financial market. In this way representativeness is ensured by consideration of all points of view.

The Working Group was established on September, 2020, while the Overnight TIIE Funding Rate was published for the first time on January 16, 2020, when new regulations came into force.

The responsibility of choosing the members of the Working Group rests within Banco de México. The Working Group will be constituted in a manner such that representativeness within the fixed income market in Mexico is guaranteed and ensured by consideration of all different points of view.

In this context, members of the Working Group will be chosen by Banco de México in accordance to their participation, influence, experience, and knowledge regarding the fixed income market. The composition of the Working Group might include, but is not limited to, representatives of banks, brokerage houses, inter-dealer electronic and voice brokers, stock exchanges, financial authorities, non-banking financial entities and corporates, among others.


Permanent members

  • Director General of Central Bank Operations - Banco de México
  • Director of Domestic Operations - Banco de México
  • Director of Operations Support - Banco de México
  • Domestic Operations Division Manager - Banco de México
  • Deputy Manager of Market Operations - Banco de México
  • Research Specialist - Banco de México

Temporary members

Representatives from:

  • Secretaría de Hacienda y Crédito Público (SHCP)
  • Comisión Nacional Bancaria y de Valores (CNBV)
  • Asociación Mexicana de Intermediarios Bursátiles (AMIB)
  • Asociación de Bancos de México (ABM)
  • Asociación Mexicana de Afores (AMAFORE)
  • Asociación Mexicana de Corredores Interbancarios
  • Bolsa Mexicana de Valores (BMV)
  • Bolsa Institucional de Valores (BIVA)
  • CME Group
  • Mercado Mexicano de Derivados (MexDer)
  • Instituto para el Depósito de Valores (INDEVAL)
  • Valuación Operativa y Referencias de Mercado (Valmer)
  • Proveedor Integral de Precios (PiP)
  • Enlace México
  • Remate Lince
  • BBVA México
  • Citibanamex
  • Santander México
  • HSBC México
  • Morgan Stanley México Casa de Bolsa
  • Barclays Bank México
  • BNP Paribas
  • Goldman Sachs
  • Coca-Cola FEMSA
  • Fibra Uno

* Last update October 12, 2020.


Month Agenda Presentation
February Eleventh meeting agenda Eleventh meeting presentation


Month Agenda Presentation
December Tenth meeting agenda Tenth meeting presentation
October Derivatives' sixth meeting agenda Derivatives' sixth meeting presentation
August Ninth meeting agenda Ninth meeting presentation
August Derivatives' fifth meeting agenda Derivatives' fifth meeting presentation
May Eighth meeting agenda Eighth meeting presentation
April Derivatives' fourth meeting agenda Derivatives' fourth meeting presentation
March Seventh meeting agenda Seventh meeting presentation


Month Agenda Presentation
October Sixth meeting agenda Sixth meeting presentation
July Fifth meeting agenda Fifth meeting presentation


Month Agenda Presentation
December Fourth meeting agenda Fourth meeting presentation*
September Third meeting agenda Third meeting presentation*
June Debt's third meeting agenda Debt's third meeting presentation*
May Derivatives' third meeting agenda Derivatives' third meeting presentation*
May Second meeting agenda Second meeting presentation*
February Banking products' second meeting agenda
February Debt's second meeting agenda
February Derivatives' second meeting agenda Derivatives' second meeting presentation*


Month Agenda Presentation
December Banking products' first meeting agenda Banking products' first meeting presentation*
December Debt's first meeting agenda Debt's first meeting presentation*
November Derivatives' first meeting agenda Derivatives' first meeting presentation*
September First meeting agenda First meeting presentation*

*Available only in Spanish. For any questions or translation requirements regarding materials only provided in Spanish please contact the Secretariat of the Working Group.

Secretariat of the Working Group on Alternative Reference Rates in Mexico

Av. 5 de Mayo 6
Second floor
Col. Centro, 06000
Mexico City