In November 2013, Petróleos Mexicanos launched the Market Makers Program for peso-denominated bonds to increase the liquidity of these in the secondary markets, and of its derivatives in the international markets, as in the case of Global Depositary Notes (GDN).
The overall goals of the Market Makers Program are the following:
provide liquidity and depth on Petróleos Mexicanos' bonds; and
diversify the investor base.
Market makers such as banks and brokerage houses that meet specific guidelines established by Petróleos Mexicanos will be able to exercise rights included within the Operating Rules.
Petróleos Mexicanos will periodically publish through its website, the list of participants and market makers included in the Program.