LCH recognised as CCP in Mexico 22 June 2018Mexico City Reporter: Jenna Lomax
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LCH has obtained recognition as a central counterparty (CCP) from the Banco de México.
The recognition for LCH’s SwapClear Service is effective from 22 June 2018 and provides a greater choice of CCPs to those participants affected by the Mexican clearing mandate.
LCH can now expand clearing to Mexican-domiciled market participants to support their interest rate derivatives trading activity.
The clearinghouse will continue to offer clearing to global participants for Mexican peso-denominated interest rate derivatives as one of the 21 currencies offered by SwapClear.
LCH clears for members and their clients based in 55 countries.
Martin Pluves, CEO of LCH, said: “Mexico and the Americas are important markets for us, and we are pleased to obtain recognition from the Banco de México.”
He added: “The approval complements our existing licences, and is a further demonstration of our open access clearing model enabling market participants across the world to achieve enhanced risk management and greater efficiencies.”
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