19 January 2017
Reporter: Drew Nicol

CME boasts record-breaking peso IRS activity

Derivatives marketplace CME Group achieved a record-breaking January trading day by clearing more than MXN 1 trillion (USD 45.53 billion) interest rate swaps (IRS) in a single session.

On 12 January, CME Group cleared notional surpassed the previous record of MXN 659 billion (USD 30 billion) set on 16 December 2016.

The firm began offering Mexican peso IRS clearing in 2013. To date, nearly 120 market participants have cleared MXN swaps at CME, with a cleared notional of over MXN 57 trillion (USD 2.59 trillion).

CME offers over-the-counter (OTC) clearing for IRS products in 19 currencies in total.

Sean Tully, CME Group global head of financial and OTC products at CME Group, said: “We are pleased that global market participants continue to turn to our OTC cleared swaps solution as their preferred venue to clear Mexican peso TIIE swaps.”

"We continue to strive to provide efficiencies to this important marketplace, including the first cleared Mexican peso compression cycle through TriOptima TriReduce, which removed more than 33,000 line items and reduced gross notional by MXN 6.23 trillion (USD 283 billion) on market participants' balance sheets."

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