LCH receives recognition as a central counterparty in Mexico
- Banco de México grants approval to LCH Ltd to clear OTC interest rate derivatives in Mexico
- Offers greater choice to Mexican-domiciled participants subject to the Mexican derivatives clearing mandate
- SwapClear’s offering now available to more participants clearing Mexican Peso denominated interest rate derivatives
- Demonstrates LCH’s ongoing commitment to Latin America
LCH Ltd, a leading global clearing house, today announced that it has obtained recognition as a central counterparty 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.
With this recognition, LCH can expand clearing to Mexican-domiciled market participants to support their interest rate derivatives trading activity. LCH 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, LCH Ltd, said: “Mexico and the Americas are important markets for us, and we are pleased to obtain recognition from the Banco de México. 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.”
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Lucie Holloway, Tel: +44 (0)20 7797 1126
About LCH
LCH is a group of leading multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes. As demand for robust clearing services continues to grow, LCH is committed to maintaining the highest standards of risk management across all our services.
As the markets’ partner, LCH operates an open access model, offering a choice of execution venues, delivering unprecedented choice and efficiencies to the marketplace.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK, France and the United States with additional offices in the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives. LCH also serves the non-cleared derivatives market through LCH SwapAgent, a new service which extends the efficiencies and infrastructure of clearing to the market, without acting as a central counterparty.
LCH is majority owned by London Stock Exchange Group (LSE.L), an international markets infrastructure business that sits at the heart of the world's financial community.
Further information on LCH can be found at www.lch.com