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

  • Since launching Chilean Peso IRS and Colombian Peso OIS on May 21, over $43bn notional has been cleared by 23 participants 
  • CME’s industry-leading TIIE IRS cleared a record $18bn (MXN 347bn) in daily notional during the second quarter
  • A record $17.5bn (R$ 63bn) BRL IRS cleared in daily notional in the second quarter
  • $2.4T notional via eight 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

 

Brazilian Real

 

  • Brazilian Real CDI Swap clearing began in Q4-2015 and has seen a 77% increase YoY
  • A record $17.5bn (R$ 63bn) BRL IRS cleared in daily notional in the second quarter
  • Open interest now exceeds $1 trillion
  • 120 participants clearing to date, including 23 new firms added this year

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