1. Current Exchange Situation in Central and South America and Expectations for the Near Future March 2007 AFM's 10th Anniversary Conference

2. 1 Mexican Derivatives Exchange Overview

3. 2 MexDer, The Mexican Derivatives Exchange was launched in December 1998; nowadays is one of the most dynamic Derivatives Exchanges worldwide. Over the last years we have had important achievements: 2000 Regulatory Framework 2001Market Makers 2003Partnership with MEFF 2004Development of the options market 2005New domestic members 2006 Remote Access via FIX Protocol History

4. 3 Futures Contracts – Currencies MXN Peso / U.S. Dollar MXN Peso / Euro – Indices IPC (Mexican Stock Exchange Index) – Individual Stocks Cemex CPO, Femsa UBD, Gcarso A1, Telmex L, Amx L – Fixed Income 91 days Cetes (MXN Treasury Bill) 28 days TIIE (Interbank Interest Rate) 3 year Bond in MXN P (M3) 10 year Bond in MXN (M10) Inflation Index (UDI)

5. 4 Options Contracts – Currencies MXN Peso / U.S. Dollar – Indices Futures on IPC – Individual Stocks Amx L Naftrac 02 – ETFs iShares S&P 500 IVV ® NASDAQ-100 QQQQ SM

6. 5 Trading evolution 19982000 2001 Open Out cry (dec, 18) SENTRA ® Derivados 100% Electronic Platform (march, 8) Market Makers (may, 2) 2004 FUTURES OPTIONS S/MART ® 100% Electronic Plattform (mar, 22)

7. 6 TIIE Monthly Average Traded Volume (Thousands of Contracts)

8. 7 CETES M10 DEUA Monthly Average Traded Volume (Thousands of Contracts)

9. 8 Remote Access Now MexDer accepts trading Members that are located outside Mexico. Objective: Increase the number of participants to add liquidity to the market. The first step…Proprietary trading only. Even though the access to the market is from overseas, the trades will be settled in Mexico through a local Clearing Member.

10. 9 Remote Access in “ FIX ” (MexFix ® ) Foreign Member A Foreign Member B Foreign Member C Foreign Member D Asigna clears all transactions

11. 10 API / FIX Access MexDer provides Remote Access via the Financial Information eXchange (FIX) protocol. Certified ISV’s:

13. 12

14. IPC ® Future Options Trading Volume Underlying IPC ® Options Change (From Cash to Futures) Orders daily average: Before - 9,300 After – 34,000 Record – 64,000 (Jan 26, 2007)

15. Current Exchange Situation in Central and South America and Expectations for the Near Future March 2007 AFM's 10th Anniversary Conference