Regulatory Alerts2020-03-30 | Circular 6/2020Added
Circular 6/2020 — Modifications to Circular 7/2011
The Bank of Mexico modifies sections 2.1, 2.2, and 2.4 of the procedure governing market makers' rights to purchase government securities (BONOS, CETES, and UDIBONOS) and conduct loan operations with the Bank. The amendments specify that market makers cannot exercise purchase rights during weeks with syndicated auctions for BONOS or UDIBONOS, set the submission window for purchase requests between 8:45:00 and 9:00:00 hours on the second business day following auction results, and establish procedures for extraordinary electronic submission failures requiring written confirmation by 17:00:00 hours. These changes apply to credit institutions and brokerage houses acting as market makers and are effective as of April 1, 2020.
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