Mexican Peso TIIE (MXN) and Brazilian Real CDI (BRL)
Contact UsCME 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.
- Since launching Chilean Peso IRS and Colombian Peso OIS on May 21, over $190bn notional has been cleared by 46 participants
- CME’s industry-leading TIIE IRS cleared a record $18.1bn (MXN 347bn) in daily notional during the second quarter
- BRL ADV is up 48% year-over-year through the third quarter
- $3T notional via 10 triReduce cycles in LatAm currencies to date
- CME clears > 95% of Mexican TIIE and 85% of the Offshore Brazilian Real CDI Swap market*
*According to Clarus SDRview
Mexican Peso
- Mexican TIIE volume of $17.7 billion ADV in 2018, $19.4bn daily notional in September
- Over 200 participants clearing to date, including 31 liquidity providers and 17 Mexico-based firms
- Broadened acceptance of Mexican Sovereign Debt for both OTC and listed products
Brazilian Real
- Brazilian Real CDI Swap clearing began in Q4-2015
- A record $11.2bn (R$ 40bn) BRL IRS cleared in daily notional year-to-date
- Open interest now exceeds $1.4 trillion
- 131 participants clearing to date, including 31 new firms added this year
© 2025 CME Group Inc. All rights reserved.