Bank of Mexico lays out new rules for local derivatives
Rules come into force for transactions with domestic investors in April 2016
The Bank of Mexico on Friday announced new rules for the 28-day interbank equilibrium interest rate swap, the main local derivative, in an effort to "strengthen the markets".
According to the new rules, the interest rate swaps will have to be traded on electronic platforms and derivatives exchanges, and transacted through clearing houses authorised by the Mexican authorities.
Clearing derivatives through a central counterparty (CCP) generates various benefits, the central bank said. In
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