Regulatory Alerts2016-03-31 | Circular 6/2016Added
Circular 6/2016 — Modifying Circular 4/2012 (Derivatives Operations)
The Bank of Mexico modifies the Rules for Derivatives Operations to establish criteria for determining standardized derivatives subject to exchange and central counterparty clearing requirements, while allowing an exception for entities with low exposure (notional amount <= 10 billion UDIS for at least three consecutive months within a six-month period). The circular introduces block trading mechanisms for standardized derivatives, defines the procedure for recognizing foreign central counterparties, and updates authorization and reporting requirements for credit institutions, brokerage houses, investment funds, and other financial entities.
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