Mexican Peso TIIE (MXN) and Brazilian Real CDI (BRL)

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CME is the global leader in Mexican TIIE and Brazilian Real CDI swap clearing. Since launching in 2014 and 2016 respectively, volume and participants have continued to grow in what is now a deeply liquid cleared swap market.

LatAm Highlights

  • Chilean Peso IRS and Colombian Peso OIS and ZCS launched May 21
  • MXN TIIE and BRL Real clearing over $29 billion ADV in 2018
  • triReduce compression runs in both currencies, generating over $2 trillion in notional reductions for dealers and clients
  • Record $22.1 billion ADV in May for Brazilian Real clearing
  • CME clears > 95% of Mexican TIIE and 85% of the Offshore Brazilian Real CDI Swap market*

*According to Clarus SDRview

 Mexican Peso

 

Brazilian Real

 

  • CDI Swap clearing began in Q4-2015 and has grown to $12 billion ADV in 2018, a 58% increase YoY
  • A record $22.1 billion ADV cleared in May
  • Open interest now exceeds $1 trillion
  • 117 participants have now cleared CDI Swaps, 62 since the start of 2017

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