The Bank for International Settlements (BIS) has opened a new dealing room at its Representative Office for the Americas in Mexico City. The new facility complements the existing BIS trading rooms in Basel and Hong Kong SAR, allowing the BIS to offer 24-hour services to its central bank customers.
Jaime Cortina, who joined BIS last year as Deputy Chief Representative and Regional Head of Treasury and Asset Management, was charged with overseeing the establishment and management of the new dealing room. Cortina was Banco de Mexico’s director of operations prior to joining BIS.
As part of the BIS’s medium-term Innovation 2025 strategy, BIS says the new dealing room is designed to expand its scope in the Americas and better serve its customers there. Central banks in the region now have access to the full range of BIS products during their trading hours, as well as to the expertise of relationship managers based in their time zone.
“Global financial markets and reserve managers’ demand for liquidity put a premium on the ability to deliver near 24-hour coverage of markets,” says Peter Zöllner, head of the BIS banking department. I am confident our central bank customers, in the Americas and worldwide, will greatly benefit from this new facility.”
The BIS offers financial services to a client base comprising some 140 central banks, monetary authorities and international organisations worldwide.