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Glossario

CETES

Categoria — Obbligazioni Sovrane

Certificados de la Tesoreria de la Federacion (CETES) - a type of government securities, which are Mexican federal treasury certificates, that’s an investment instrument provided by the Secretariat of Finance and Public Debt of Mexico (Secretaria de Hacienda y Credito Publico, SHCP) and the Bank of Mexico (Banco de Mexico , Banxico - Central Bank of Mexico).

This type of government securities is considered the most liquid on the Mexican market, due to the preservation of its value due to the guarantee of their payment by the government.

    1. This type of government securities has the following features:

    2. The par value of such securities is 10 MXN.

    3. These bonds are classified as “zero coupon bonds”. The par value is paid on the maturity date.

    4. This type of government bonds may be issued on the condition that their maturity date must fall on Thursday or the day that replaces it, if it is a day off. The minimum term for issuing such bonds is 7 days, the maximum is 728 days.

    5. Every Tuesday, the Bank of Mexico holds an auction of government securities, at which the exchange rate and purchase price of CETES is determined.

In addition, CETES can be used as underlying assets in the derivatives (futures and options) markets. Also it can be used as a base rate in the market, since there are loans based on them.

Examples of such bonds: Mexico, Cetes 0% 3mar2022, MXN (91D), Mexico, Cetes 0% 20oct2022, MXN (364D)

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