Broadened Acceptance of MXN Collateral at CME Group

Mexican Sovereign Debt Extensions – LIVE

Increasing the limit of Mbonos & Cetes from $100 million to $250 million USDE per clearing member to meet initial margin requirements*

Broadening product coverage for Mbonos & Cetes now accepted for initial margin across CME’s Futures, Options, and other OTC Cleared products

Paying Interest on Mexican Pesos

  • CME Clearing currently pays clearing members interest on Mexican peso cash used for initial margin
  • The interest rate CME pays on peso balances is based on the 28-day TIIE

Industry-Leading TIIE IRS Clearing Offering

  • Over 95% of MXN TIIE-based interest rate swap exposures were cleared at CME in 2017, per SDR data**
  • $14.9 billion in average daily notional volume in 2017, or 85% year-on-year growth
  • 174 unique participants clearing to date, including 34 liquidity providers
  • 28 Latin America-based participants comprising banks, hedge funds and asset managers
  • Open interest currently at $1.9 trillion with $225 billion notional outstanding beyond five years

Source: CME Group

For further information please contact a member of the team:

Jorge Alegria

+1 312 307 8167

Stephen Hurst

+1 312 930 1298

* Limit is set across the clearing member and affiliates
**Based on Clarus SDRview

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