BIS launches round-the-clock banking with Mexican dealing room

The Bank for International Settlements launched its Mexico City-based dealing room on May 26, allowing it to provide banking services to central bank clients 24 hours a day.

The BIS already has trading rooms in Basel and Hong Kong. “Global financial markets and reserve managers’ demand for liquidity put a premium on the ability to deliver near 24-hour coverage of markets. I am confident our central bank customers, in the Americas and worldwide, will greatly benefit from this new facility,” said Peter Zöllner, head of the BIS banking department, in a statement.

The launch fits with the “Innovation 2025” strategy championed by general manager Agustín Carstens. The strategy includes expanding banking services and boosting the organisation’s presence in the Americas.

The BIS provides banking services to 140 institutions worldwide, mostly central banks but also some international organisations. Its services include credit, gold and foreign exchange intermediation, and asset management.