Mexico rushing to pass European CCP tests

EU customers face penalty without Esma blessing


Mexico's derivatives exchange, MexDer, is racing to bring its clearing house in line with international principles that are a prerequisite for authorisation by the European Securities and Markets Authority (Esma). The largest users of Asigna Compensación y Liquidación – the exchange's clearing service – are European banks, and they would be barred from the central counterparty (CCP), or face a heavier capital burden, if it does not get Esma's blessing by mid-June.

"We have been told by our

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