Santander and BlackRock launch first electronic market for Mexican repo
14 November 2025 Mexico
Image: zsuriel/stock.adobe.com
Santander Corporate & Investment Banking (SCIB) and BlackRock have launched the first fully electronic trading solution for Mexican repos.
The solution will operate through the Tradeweb Markets platform, placing Mexican repos at the forefront of these operations in the region, the firms say.
The milestone marks a significant advancement for the financial markets of Latin America, according to Tradeweb, and aims to bring repo operations to the level of markets such as Europe or the US.
Mexico is the first country in Latin America to take this step, which will see institutional clients 鈥� mainly Afores and investment funds 鈥� benefit from a fully digital management process, from the request-for-quote to execution, post-trade fund allocation, and collateral assignment.
Luis Betancourt Barrios, head of markets at Santander Mexico, says the launch positions Santander as 鈥渁 leader in market structure and digitalisation in the region鈥�, representing 鈥渁 milestone in innovation in Mexican repos鈥� and 鈥渙pens a new era鈥� in these operations, projecting the country internationally.
He adds: 鈥淔or our clients, it is a substantial step that, in addition to facilitating operations, allows them to reduce risks by automating processes.鈥�
For Sergio Mendez, BlackRock鈥檚 country head for Mexico, 鈥渢rading Mexican repos through our Aladdin platform and Tradeweb represents a radical change. It expands our clients鈥� trading capabilities and improves operational efficiency鈥�.
The first operation on the Tradeweb platform was executed with BlackRock as client and Santander CIB as liquidity provider, which the firms feel highlights their roles in promoting innovation and liquidity in the Mexican repo market.
Users of BlackRock鈥檚 Aladdin OEMS can connect directly to the Tradeweb platform, with Mexican government securities available as collateral.
The platform supports trading across all repo segments 鈥� including specials, general collateral, and triparty 鈥� for a variety of terms.
Kerim Acanal, managing director, global head of emerging markets at Tradeweb, comments that 鈥渢he Mexican repo market is ready for digitalisation. Leveraging our experience in Europe and the US, we are excited to offer a fully digital trading solution for Mexican repos, improving workflows and access to liquidity鈥�.
Santander CIB is the first liquidity provider to connect to the platform, with Tradeweb planning to onboard additional dealers and clients with Mexican peso repo books in the near future.
The solution will operate through the Tradeweb Markets platform, placing Mexican repos at the forefront of these operations in the region, the firms say.
The milestone marks a significant advancement for the financial markets of Latin America, according to Tradeweb, and aims to bring repo operations to the level of markets such as Europe or the US.
Mexico is the first country in Latin America to take this step, which will see institutional clients 鈥� mainly Afores and investment funds 鈥� benefit from a fully digital management process, from the request-for-quote to execution, post-trade fund allocation, and collateral assignment.
Luis Betancourt Barrios, head of markets at Santander Mexico, says the launch positions Santander as 鈥渁 leader in market structure and digitalisation in the region鈥�, representing 鈥渁 milestone in innovation in Mexican repos鈥� and 鈥渙pens a new era鈥� in these operations, projecting the country internationally.
He adds: 鈥淔or our clients, it is a substantial step that, in addition to facilitating operations, allows them to reduce risks by automating processes.鈥�
For Sergio Mendez, BlackRock鈥檚 country head for Mexico, 鈥渢rading Mexican repos through our Aladdin platform and Tradeweb represents a radical change. It expands our clients鈥� trading capabilities and improves operational efficiency鈥�.
The first operation on the Tradeweb platform was executed with BlackRock as client and Santander CIB as liquidity provider, which the firms feel highlights their roles in promoting innovation and liquidity in the Mexican repo market.
Users of BlackRock鈥檚 Aladdin OEMS can connect directly to the Tradeweb platform, with Mexican government securities available as collateral.
The platform supports trading across all repo segments 鈥� including specials, general collateral, and triparty 鈥� for a variety of terms.
Kerim Acanal, managing director, global head of emerging markets at Tradeweb, comments that 鈥渢he Mexican repo market is ready for digitalisation. Leveraging our experience in Europe and the US, we are excited to offer a fully digital trading solution for Mexican repos, improving workflows and access to liquidity鈥�.
Santander CIB is the first liquidity provider to connect to the platform, with Tradeweb planning to onboard additional dealers and clients with Mexican peso repo books in the near future.
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