Mexico rushing to pass European CCP tests

Mexican derivatives clearer, Asigna, has applied for authorisation in Europe, but has work to do - and so does the country's finance ministry


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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