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LCH Receives Recognition as a Central Counterparty in Mexico
Traders Magazine Online News, July 2, 2018
LCH Ltd, a leading global clearing house, 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.”
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