Global clearing house LCH has 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 June 22, 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, LCH
Martin Pluves, CEO of 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.