GENERAL PROVISIONS ESTABLISHING ACCOUNTING CRITERIA FOR PARTICIPANTS IN THE DERIVATIVES CONTRACTS MARKET

Published in the Official Gazette of the Federation on February 2, 2011.
Updated with modifications published in the same Gazette on March 18, 2011; April 19, 2013; July 23, 2015; January 4 and November 15, 2018, November 4, 2019, November 9, 2020; December 15, 2021; December 2, 2022; September 28, 2023 and July 25, 2025, as well as July 6, 2026.

INDEX

(5) Chapter I
(13) On Accounting Criteria
(5) Chapter II
(13) On the Valuation of Securities and Other Financial Instruments (14) First Section (14) General Provisions (14) Second Section (14) On the Hiring of Price Providers

List of Annexes

(16) Annex 1 Accounting Criteria for Clearing Houses.
(16) Annex 2 Accounting Criteria for Liquidating Members.
(20) Annex 3 Formats for transmitting information to the National Banking and Securities Commission.

The National Banking and Securities Commission, based on articles 4, fractions II, XXXVI and XXXVIII, and 16 fraction I of its Law, in relation to the Fourteenth, first paragraph of the "Rules to which Societies and Trusts intervening in the establishment and operation of a futures and options exchange-traded market shall be subject," published in the Official Gazette of the Federation on December 31, 1996, last modified by resolution published in the same Gazette on August 24, 2010, as well as with the Fifty-third of the "Prudential provisions to which participants in the futures and options exchange-traded market shall be subject in their operations," published in the Official Gazette of the Federation on May 26, 1997, last modified by resolution published in the aforementioned Dissemination Body on January 4, 2005, and

CONSIDERING

That the Circular dated December 23, 1999, addressed to exchanges, clearing houses, liquidating members, and operators participating in the futures and options exchange-traded market, established the accounting criteria applicable to said entities starting from the 2000 fiscal year;

That due to various adjustments in accounting matters at the national and international levels, it is necessary to update and improve the recognition, valuation, presentation, and disclosure rules provided in the accounting criteria for the aforementioned entities, and

That the accounting criteria issued by the Commission, applicable to the cited entities, must be consistent, where appropriate, with the financial reporting standards established both in Mexico and internationally, so that the information provided by the entities is comparable and subject to better analysis by authorities, the public, and markets in general, given the specialized operations performed by such entities, has resolved to issue the following:

GENERAL PROVISIONS ESTABLISHING ACCOUNTING CRITERIA FOR PARTICIPANTS IN THE DERIVATIVES CONTRACTS MARKET

(5) Chapter I

(13) On Accounting Criteria

(5) FIRST.- Derivative exchanges and operators who participate in the market of listed derivatives contracts on the exchange itself, shall keep their accounting in terms of the Financial Reporting Standards issued by the Mexican Council for Financial Reporting Standards, A.C.

(13) Clearing Houses and Liquidating Members who participate in the derivatives contracts market, shall observe for the same purposes, the “Accounting Criteria for Clearing Houses” and “Accounting Criteria for Liquidating Members,” respectively, provided in these provisions.

(5) SECOND.- The Accounting Criteria for Clearing Houses attached to these provisions as Annex 1, are divided into the Series and Criteria indicated below:

(5) Series A.

(13) Criteria relating to the general scheme of accounting for Clearing Houses.

(13) A-1. Basic scheme of the set of Accounting Criteria applicable to Clearing Houses.

(5) A-2. Application of particular rules.

(5) A-3. Application of general rules.

(13) A-4. Supplementary application to the Accounting Criteria.

(5) Series B.

(5) Criteria relating to the concepts that make up the financial statements.

(13) B-1. Cash and cash equivalents.

(15) B-2. Repealed.

(5) B-3. Repos.

(5) B-4. Securities Lending

(15) B-5. Repealed.

(5) B-6. Contribution Fund and Compensation Fund

(15) Series C. (Repealed)

(5) Series D.

(5) Criteria relating to basic financial statements.

(13) D-1. Statement of Financial Position.

(13) D-2. Statement of Comprehensive Income.

(13) D-3. Statement of Changes in Equity.

(5) D-4. Statement of Cash Flows.

(5) THIRD.- The Accounting Criteria for Liquidating Members attached to these provisions as Annex 2, are divided into the Series and Criteria indicated below:

(5) Series A.

(13) Criteria relating to the general scheme of accounting for Liquidating Members.

(13) A-1. Basic scheme of the set of Accounting Criteria applicable to Liquidating Members.

(5) A-2. Application of particular rules.

(5) A-3. Application of general rules.

(13) A-4. Supplementary application to the Accounting Criteria.

(5) Series B.

(5) Criteria relating to the concepts that make up the financial statements.

(13) B-1. Cash and cash equivalents.

(15) B-2. Repealed.

(5) B-3. Repos.

(5) B-4. Securities Lending.

(15) B-5. Repealed.

(5) B-6. Excesses of Minimum Initial Contributions.

(5) B-7. Custody and administration of assets.

(15) Series C. (Repealed)

(5) Series D.

(5) Criteria relating to basic financial statements.

(13) D-1. Statement of Financial Position.

(13) D-2. Statement of Comprehensive Income.

(13) D-3. Statement of Changes in Equity.

(5) D-4. Statement of Cash Flows.

(17) FOURTH.- The Commission may authorize Clearing Houses and Liquidating Members to apply special accounting criteria temporarily regarding the application of the accounting criteria contained in Annexes 1 and 2 of these provisions, respectively, when competent authorities issue declarations of emergency or natural disaster due to disruptive natural phenomena that generate economic impacts that, in the opinion of the Commission, could cause an adverse impact on the solvency or liquidity of two or more Clearing Houses or Liquidating Members and, if applicable, on the stability of the financial system.

(17) For the purposes of the preceding paragraph, disruptive natural phenomenon shall refer to that referred to in the General Law on Civil Protection or the one that replaces it.

(17) To obtain authorization for the application of special accounting criteria, the following must be sent to the Commission at least:

(17)
I. Detailed description of the special accounting criteria requested, as well as the period and geographic area of application.

(17)
II. Detailed narrative of the economic impacts caused or estimated to be caused by the disruptive natural phenomenon.

(17)
III. Estimate of the impact that the economic impacts could have on the solvency, liquidity indicators, and those related to the application of the special accounting criteria of the affected Clearing Houses and Liquidating Members and, if applicable, on the stability of the financial system.

(17)
IV. Explanation of how the special accounting criteria will help reduce or prevent the impacts referred to in the previous fractions.

(19) The authorization request must be sent to the Commission in accordance with the format contained in Annex 3 of these provisions, and signed with an autograph signature, or via advanced or reliable electronic signature, in accordance with the Commercial Code, by the legal representative of the Clearing Houses and Liquidating Members.

(19) The Commission will resolve the authorization request referred to in the preceding paragraph within a period of sixty business days counted from the day following its receipt. Until the respective resolution is notified, Clearing Houses and Liquidating Members must continue to use the accounting criteria established in Annexes 1 and 2 of these provisions, as applicable. If this period expires without the Commission issuing or notifying the corresponding resolution, it will be understood in the negative sense and the request will be considered dismissed.

(17) The validity for the application of authorized special accounting criteria may be extended only once for a period that cannot exceed the originally granted term, when, in the opinion of the Commission, the applicants prove that the economic impacts persist at the date of the extension request.

(18) FOURTH BIS.- The Commission may authorize Clearing Houses and Liquidating Members regarding the application of the accounting criteria provided in Annexes 1 and 2 of these provisions, as applicable, to carry out special accounting records, when, in the opinion of the Commission, these are necessary to ensure the stability and proper functioning of Clearing Houses and Liquidating Members during Financial Rehabilitation or Corporate Restructuring processes, provided that such processes do not result from non-compliance with the regulatory framework applicable to them and that the Clearing House or Liquidating Member in question is not already applying special accounting records at the date of the request.

(19) The request to obtain authorization for the application of special accounting records must be sent to the Commission in accordance with the format contained in Annex 3 of these provisions and signed with an autograph signature, or via advanced or reliable electronic signature, in accordance with the Commercial Code, by the legal representative of the Clearing Houses and Liquidating Members, and must contain at least the following:

(18)
I. Detailed description of the special accounting records requested, indicating at least the items of the financial statements that would be affected, amounts, and period for their application.

(18)
II. Detailed explanation of the causes that have generated the need to carry out the Financial Rehabilitation or Corporate Restructuring process.

(18)
III. Solvency, liquidity, capital indicators, and those related to the application of special accounting records, determined at the date of the request, as well as a detailed description of the impacts that such indicators could present if the requested authorization were not obtained.

(18)
IV. Actions and remediation measures that constitute the Financial Rehabilitation or Corporate Restructuring processes required by the financial entity.

(18) V. Evidence that the actions and measures indicated in the request have the approval of the Technical Committee of the requesting Clearing House and Liquidating Member.

(18) For the purposes of this article, it must be understood by:

(18) a) Financial Rehabilitation, the reorganization process to improve the financial situation of a Clearing House or Liquidating Member, resulting from an impact on its solvency, stability, or liquidity that puts the continuity of said financial entities at risk.

(18) b) Corporate Restructuring, the set of actions that transform the legal structure of a Clearing House or Liquidating Member and that result from an impact on its solvency, stability, or liquidity that puts its business continuity at risk and that are carried out with the aim of obtaining an economic effect aimed at its recovery, such as mergers, spin-offs, and discontinued operations.

(19) The Commission will resolve the authorization request referred to in the preceding paragraph within a period of sixty business days counted from the day following its receipt. Until the respective resolution is notified, Clearing Houses and Liquidating Members must continue to use the accounting criteria established in Annexes 1 and 2 of these provisions, as applicable. If this period expires without the Commission issuing or notifying the corresponding resolution, it will be understood in the negative sense and the request will be considered dismissed.

(18) FOURTH BIS 1.- Clearing Houses and Liquidating Members that have obtained authorization from the Commission to apply special accounting criteria or special accounting records, under the provisions FOURTH and FOURTH BIS respectively, must disclose in the explanatory notes to the audited annual and quarterly consolidated basic financial statements corresponding to the periods in which they are applied and in public financial information communications, the following:

(18)
I. That they have authorization from the Commission to apply special accounting criteria or special accounting records, specifying, if applicable, the period for which they have authorization for their application.

(18)
II. The description of the authorized special accounting criteria or special accounting records and how they have been applied, as well as the records that should have been made in accordance with the accounting criteria contained in Annexes 1 and 2 of these provisions.

(18)
III. The amounts that would have been recorded and presented in the statement of financial position and in the statement of comprehensive income if they did not have the authorization to apply the special accounting criteria or special accounting records.

(18)
IV. The detail of the concepts and amounts for which the accounting impact was made.

(18) V. The impact that the application of special accounting criteria or special accounting records generates on solvency, liquidity, capital indicators, and those related to the application of these.

(18) VI. Additional information that the Commission determines in the authorization of the special accounting criteria or special accounting records.

(18) Regarding the annual financial statements referred to in this article, the disclosure must be made through a specific note.

(18) The Commission may revoke the special accounting criteria or special accounting records authorized under the provisions FOURTH and FOURTH BIS respectively, when Clearing Houses and Liquidating Members fail to comply with what is provided in any of the fractions I to VI of this article regarding the information to be disclosed, or with the requirements contained in the authorized special accounting criteria or special accounting records, as applicable.

(18) In case it is applicable, Clearing Houses and Liquidating Members to whom the Commission has revoked the authorization to apply special accounting criteria, will have the obligation to maintain the agreements they have made with their clients as a consequence of the application of the aforementioned criteria, prior to the date when the revocation is determined.

(3) Chapter II

(13) On the Valuation of Securities and Other Financial Instruments

(14) First Section

(14) General Provisions

(13) FIFTH.- The provisions provided in this chapter have the object of establishing the requirements that Clearing Houses and Liquidating Members must follow in matters of valuation of Securities and other financial instruments that form part of their statement of financial position.

(13) SIXTH.- For the purposes of this chapter, it will be understood by:

(13) I. Updated Price for Valuation, the market or theoretical price obtained based on algorithms, technical and statistical criteria, for each of the Securities and other financial instruments, contained in a methodology developed by a Price Provider.

(13) II. Daily Settlement Price or Closing Price, in futures contracts, is the reference price per unit of Underlying Asset that the Derivative Exchange makes known to the Clearing House for the purposes of calculating Daily Settlement.

(13) In Options Contracts, it is the value of the premium per unit of Underlying Asset for each of the series that the Derivative Exchange makes known to the Clearing House for the purposes of calculating Daily Settlement.

(13) III. Price Provider, the legal person authorized by the National Banking and Securities Commission to operate with such character in terms of the Securities Market Law.

(13) IV. Direct Vector Valuation, the procedure of multiplying the number of titles in position by the Updated Price for Valuation provided by a Price Provider.

(3) V. Securities, those considered as such by the Securities Market Law.

(13) In addition to the above, the terms Underlying Assets, Contributions, Minimum Initial Contributions, Derivatives Contracts, Open Contracts, and Excesses of Minimum Initial Contributions, in singular or plural, will have the meaning attributed to them in the “Rules to which participants in the derivatives contracts market shall be subject,” published in the Official Gazette of the Federation on December 31, 1996 and its respective modifications, or those that replace them.

(13) SEVENTH.- Clearing Houses and Liquidating Members must apply Direct Vector Valuation on Securities and other financial instruments, repos, Contributions, Minimum Initial Contributions, and Excesses of Minimum Initial Contributions that they make on said Securities, which form part of their statement of financial position.

(13) Clearing Houses and Liquidating Members must perform the valuation of Derivatives Contracts based on the Daily Settlement Price or Closing Price.

(13) EIGHTH.- Clearing Houses and Liquidating Members will recognize Updated Prices for Valuation daily in their accounting for the determination of the fair value of Securities and other financial instruments, repos, Contributions, Minimum Initial Contributions, and Excesses of Minimum Initial Contributions that make up their statement of financial position, considering the information made known by their Price Provider or the Daily Settlement Price or Closing Price, regarding Derivatives Contracts.

(14) Second Section

(14) On the Hiring of Price Providers

(13) NINTH.- The Technical Committee of each clearing house and of the liquidating members must approve the hiring of the Price Provider.

(13) Regarding liquidating members that form part of a financial group, the Price Provider must be the same that the other financial entities belonging to said financial group have hired.

(13) TENTH.- Clearing Houses and Liquidating Members must notify in writing to the National Banking and Securities Commission, through free format and within ten business days following the celebration of the respective contract, the name of the Price Provider they hire, attaching a copy of the service contract.

(13) In case of substitution of the Price Provider, this must be notified to the National Banking and Securities Commission thirty calendar days in advance using a free format and attaching a copy of the service contract.

(15) ELEVENTH.- (Repealed)

(13) TWELFTH.- Clearing Houses and Liquidating Members must carry out periodic and systematic reviews of what is stated in this chapter, through the Subcommittee on Admission and Risk Management, or the one that replaces it, to monitor compliance with applicable rules.

(14) THIRTEENTH.- Clearing Houses and Liquidating Members must request from their Price Provider the necessary information to comply with the information disclosure requirements on the determination of the Updated Price for Valuation contained in the Accounting Criteria.”

TRANSITORY PROVISIONS

FIRST.- These provisions will enter into force on March 31, 2011.

SECOND.- Exchanges in the futures and options market, clearing houses, liquidating members, and operators, for comparative purposes, as well as for the preparation of their quarterly financial statements, must present the financial information corresponding to the first quarter of 2011, based on the accounting criteria contained in these provisions.

THIRD.- From the entry into force of these Provisions, the Circular addressed to exchanges, clearing houses, liquidating members, and operators participating in the futures and options exchange-traded market dated December 23, 1999, through which the Applicable Accounting Criteria for said entities starting from the 2000 fiscal year were made known, is hereby repealed.

TRANSITORY PROVISION

(Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the Futures and Options Exchange-Traded Market shall be subject, published in the Official Gazette of the Federation on March 18, 2011)

UNIQUE.- This Resolution will enter into force on March 31, 2011.

TRANSITORY PROVISION

(Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the Futures and Options Exchange-Traded Market shall be subject, published in the Official Gazette of the Federation on April 19, 2013)

UNIQUE.- This Resolution will enter into force on the day following its publication in the Official Gazette of the Federation.

TRANSITORY PROVISION

(Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the Derivatives Contracts Market shall be subject, published in the Official Gazette of the Federation on July 23, 2015)

UNIQUE.- This Resolution will enter into force on the day following its publication in the Official Gazette of the Federation.

TRANSITORY PROVISION

(Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the Derivatives Contracts Market shall be subject, published in the Official Gazette of the Federation on...)

Derivatives Contracts, published in the Official Gazette of the Federation on January 4, 2018)

(10) SOLE PROVISION.- The Financial Information Standards B-17 "Determination of Fair Value", C-3 "Accounts Receivable", C-9 "Provisions, Contingencies and Commitments", C-16 "Impairment of Financial Assets Receivable", C-19 "Financial Liabilities Payable", C-20 "Financial Assets to Collect Principal and Interest", D-1 "Revenue from Contracts with Customers", D-2 "Costs from Contracts with Customers" and D-5 "Leases", issued by the Mexican Council for Financial Information Standards, A.C. and referred to in paragraph 3 of Criterion A-2 "Application of Particular Standards" of Annexes 1 and 2 modified by this instrument, shall enter into force on January 1, 2023.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published on January 4, 2018, published in the Official Gazette of the Federation on November 15, 2018)

SOLE PROVISION.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published on January 4, 2018, published in the Official Gazette of the Federation on November 4, 2019)

SOLE PROVISION.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published in the Official Gazette of the Federation on January 4, 2018, published in said Dissemination Organ on November 9, 2020)

SOLE PROVISION.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published in the Official Gazette of the Federation on December 15, 2021)

SOLE PROVISION.- This Resolution shall enter into force as of December 15, 2021.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published in the Official Gazette of the Federation on January 4, 2018, published in said Dissemination Organ on December 02, 2022)

SOLE PROVISION.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published in the Official Gazette of the Federation on September 28, 2023)

FIRST.- These provisions shall enter into force on January 1, 2024.

SECOND.- Clearing Houses and Liquidating Members, for the purpose of the initial application of the Accounting Criteria contained in Annexes 1 and 2 that are replaced by this Resolution, shall adhere to what is established in Financial Information Standard B-1 "Accounting Changes and Corrections of Errors" applicable to Clearing Houses and Liquidating Members, by virtue of what is established in the respective criterion A-2 "Application of Particular Standards" of Annexes 1 and 2 of the "General Provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject" in force as of December 31, 2023.

Clearing Houses and Liquidating Members shall disclose in notes to the financial statements the main changes in accounting regulations that affect or could significantly affect their financial statements, as well as, the adoption mechanics and adjustments made in the determination of the initial effects of the application of the Accounting Criteria contained in this Resolution.

THIRD.- The basic consolidated quarterly and annual financial statements that, in accordance with this Resolution, are required from Clearing Houses and Liquidating Members, corresponding to the period concluded on December 31, 2024, may not present comparative data with each quarter of the 2023 fiscal year nor for the period ended on December 31, 2023.

TRANSITIONAL PROVISION
(Modifying Resolution of the Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject, published in the Official Gazette of the Federation on July 25, 2025)

SOLE PROVISION.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation

TRANSITIONAL PROVISION
(Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the market of derivatives contracts shall be subject, published in the Official Gazette of the Federation on July 6, 2026)

FIRST.- This Resolution shall enter into force as of the day following its publication in the Official Gazette of the Federation.

SECOND.- Clearing houses and liquidating members that, prior to the entry into force of this modifying Resolution, have submitted to the Commission their authorization request in terms of what is established by provision FOURTH or FOURTH Bis, as applicable, will continue their process in accordance with what is provided in the "General Agreement by which actions for simplification and administrative improvement are established for procedures carried out before the National Banking and Securities Commission"

published in the Official Gazette of the Federation on December 31, 2025, in the case of those authorization requests that were submitted prior to the entry into force of the Agreement mentioned above, they will be processed in accordance with the second transitional article of the same.

THIRD.- Clearing houses and liquidating members that, prior to the entry into force of this modifying Resolution, hold authorization issued by the Commission in terms of what is established in provision FOURTH or FOURTH Bis, as applicable, shall remain valid until the date of their conclusion.

CONSIDERING
(Resolution published on March 18, 2011)

That it is necessary to incorporate into Annex 2 of the General Provisions establishing the accounting criteria to which participants in the market for futures and options traded on the exchange shall be subject, the accounting criterion for the recording of repos carried out by liquidating members, has resolved to issue the following:

CONSIDERING
(Resolution published on April 19, 2013)

That due to the modifications made to the "Rules to which participants in the market for listed derivatives contracts shall be subject" carried out jointly by the Ministry of Finance and Public Credit, the Bank of Mexico and this Commission, as well as to the "Prudential Dispositions to which participants in the market for listed derivatives contracts shall be subject in their operations", carried out by this decentralized body, in which it was foreseen that liquidating members may clear and settle listed derivatives contracts both on their own account and for third parties or both, at the same time establishing the rules for participants in the derivatives market in the celebration of operations with derivatives contracts in recognized foreign markets, it is necessary to make some clarifications in the accounting standards applicable to said participants, and

That likewise, it is important to incorporate the valuation standards for securities and other financial instruments that form part of the balance sheet of liquidating members and clearing houses, specifying that the valuation of said securities and other financial instruments must be at fair value, with the purpose of ensuring consistency with the accounting standards applicable to other financial entities supervised by the National Banking and Securities Commission, as well as for the integration and disclosure of information provided by both clearing houses and liquidating members to be subject to better analysis by authorities, the public and the derivatives market, due to the specialized operations that such entities perform, has resolved to issue the following:

CONSIDERING
(Resolution published on July 23, 2015)

That it is necessary to adjust the accounting criteria applicable to clearing houses and to liquidating members in order to align them with the modifications included in the "Resolution by which the rules to which participants in the derivatives contracts market shall be subject are modified", published in the Official Gazette of the Federation on May 15, 2014, has resolved to issue the following:

CONSIDERING
(Resolution published on January 04, 2018)

That it is important to incorporate certain Financial Information Standards issued by the Mexican Council for Financial Information Standards, A.C., in order for them to be applicable to clearing houses and liquidating members that participate in the market for futures and options traded on the exchange at the same time determining the deadline for their application, with the object of ensuring that these companies are able to comply with them, has resolved to issue the following:

CONSIDERING
(Resolution published on November 15, 2018)

That on January 4, 2018, the Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject was published in the Official Gazette of the Federation, with the purpose of incorporating certain Financial Information Standards issued by the Mexican Council for Financial Information Standards, A.C., into the standards applicable for the preparation of the accounting of clearing houses and liquidating members that participate in the derivatives contracts market traded on stock exchanges, and

That it is convenient to extend the deadline for its application, with the object of allowing the aforementioned clearing houses and liquidating members to be able to adjust their accounting information systems, has resolved to issue the following:

CONSIDERING
(Resolution published on November 4, 2019)

That on January 4, 2018, the Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject was published in the Official Gazette of the Federation, with the purpose of incorporating certain Financial Information Standards issued by the Mexican Council for Financial Information Standards, A.C., into the accounting standards applicable to clearing houses and liquidating members that participate in the derivatives contracts markets traded on the exchange, and

That on November 15, 2018, the aforementioned resolution was modified, with the purpose of extending the entry into force of the application of some accounting standards incorporated in the resolution of January 4, 2018 and that, in order for clearing houses and liquidating members to be able to adjust their accounting information systems, it is convenient to extend the deadline for its application again, has resolved to issue the following:

CONSIDERING
(Resolution published on November 9, 2020)

That on January 4, 2018, the Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject was published in the Official Gazette of the Federation, with the purpose of incorporating certain Financial Information Standards issued by the Mexican Council for Financial Information Standards, A.C., into the accounting standards applicable to clearing houses and liquidating members that participate in the derivatives contracts markets traded on the exchange;

That on November 15, 2018 and November 4, 2019, the aforementioned resolution was modified, with the purpose of extending the entry into force of the application of some accounting standards incorporated in the resolution of January 4, 2018, in order for clearing houses and liquidating members to be able to adjust their accounting information systems, and

That as a result of the current situation in which participants in the derivatives contracts market have reduced their operational capacity and human resources due to the health measures adopted by the health contingency caused by the disease generated by the virus known as COVID-19, without it being feasible to specify the times in which human and technical resources can be allocated to implement the entry into force of the Financial Information Standards referred to in the first paragraph of these considering clauses, has resolved to issue the following:

CONSIDERING
(Resolution published on December 15, 2021)

That, in accordance with article 78 of the General Law for Regulatory Improvement and with the purpose of reducing the compliance cost of this Resolution, the National Banking and Securities Commission through a resolution published in the Official Gazette of the Federation on December 26, 2017, reformed the

"General Provisions applicable to credit institutions", with the object of granting an extension to the deadline to which multiple banking institutions were subject to constitute their operational risk capital requirements;

That, in terms of the accounting criteria in force, the National Banking and Securities Commission instructs entities subject to its regulation to use the FIX (Fixed Exchange Rate) exchange rate published by the Bank of Mexico in the Official Gazette of the Federation to establish the equivalence of the national currency with the United States dollar, a situation that allows maintaining uniform criteria among said entities;

That the FIX exchange rate is determined by the Bank of Mexico based on an average of wholesale foreign exchange market quotations for operations payable on the second subsequent banking business day and that are obtained from foreign exchange transaction platforms and other electronic means with representativeness in the foreign exchange market. The Bank of Mexico makes the FIX known starting at 12:00 hours on all banking business days, it is published in the Official Gazette of the Federation one banking business day after the determination date and is used to settle obligations denominated in dollars payable in the Mexican Republic the day following its publication in said dissemination medium;

That, due to the time that exists between the schedules established for the sampling used for the determination of the FIX exchange rate in accordance with the applicable regulations issued by the Bank of Mexico (from 9:00:00 to 9:59:00 hours; from 10:00:00 to 10:59:00 hours, and from 11:00:00 to 12:00:00 hours) and the value of the exchange rate at the close of the trading day used by entities to close their operations (14:00 hours), differences arise between the exchange rate for purposes of recognition in financial information and the exchange rates used in treasury areas, and

That, in view of the foregoing, it is necessary to use an exchange rate published by the Bank of Mexico that considers a wider sampling window in order to be consistent with the close of the trading day, for which reason it has resolved to issue the following:

CONSIDERING
(Resolution published on December 02, 2022)

That on January 4, 2018, the "Resolution that modifies the general provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject" was published in the Official Gazette of the Federation, with the purpose of, among other things, incorporating certain Financial Information Standards issued by the Mexican Council for Financial Information Standards, A.C., into the standards applicable to the preparation of the accounting of clearing houses and liquidating members that participate in the derivatives contracts markets traded on the exchange, and

That, as a result of the global health crisis that occurred in the preceding years and its adverse economic effects, the aforementioned clearing houses and liquidating members have reduced their operational capacity, so it is convenient to extend the deadline for the entry into force of the Financial Information Standards referred to in the previous Considering clause, in order for the aforementioned participants in the derivatives contracts market to be able to adapt their accounting information systems, has resolved to issue the following:

CONSIDERING
(Resolution published on September 28, 2023)

That, in accordance with article 78 of the General Law for Regulatory Improvement and with the purpose of reducing the compliance cost of these provisions, the National Banking and Securities Commission through the issuance of the "Resolution that modifies the General Provisions applicable to savings and popular credit institutions, integration organisms, community financial societies and rural financial integration organisms referred to in the Savings and Popular Credit Law" and the

"Resolution that modifies the General Provisions applicable to credit institutions" published in the Official Gazette of the Federation on October 6, 2017 and April 26, 2018, respectively, eliminated various obligations; in the first resolution, the obligation to present the credit information report in terms of the Law to Regulate Credit Information Societies for those persons intending to participate in the social capital or constitute themselves as creditors with guarantee regarding the paid-up social capital of a popular financial entity, and in the second, the obligations provided for in the standard on external audit of basic financial statements, since the latter were transferred to a new regulatory body;

That, in order to continue with the process of convergence of national and international accounting standards of the implementation project of International Financial Reporting Standard 9 (International Financial Reporting Standard 9 or IFRS9, by its name and acronym in English), which was adopted by the Mexican Council for Financial Information Standards, A.C. (CINIF), publishing eight new Financial Information Standards (NIF) that entered into force on January 1, 2018, it is proposed a modification to the regulatory framework applicable to clearing houses and liquidating members that participate in the derivatives contracts market, in order to incorporate updates in the matter of accounting criteria, as well as standards on valuation of securities and other financial instruments, and

That, with the purpose of having an accounting regulatory framework consistent with international criteria, not only issues related to financial instruments are incorporated but, in addition, the standards in the matter of leases, revenue recognition and determination of fair value are strengthened, for which reason it has resolved to issue the following:

CONSIDERING
(Resolution published on July 25, 2025)

That in accordance with article 78 of the General Law for Regulatory Improvement and with the purpose of reducing the compliance cost of this modifying resolution, the National Banking and Securities Commission through the issuance of the "Resolution that modifies the general provisions applicable to credit institutions", published in the Official Gazette of the Federation on June 22, 2022, incentivized the use of central counterparties for the settlement of derivatives operations, as well as supporting efforts related to the central clearing of standardized Over The Counter (OTC, by its acronym in English) derivatives contracts and promoting a reduction of the systemic risk of the derivatives market in Mexico;

That it is necessary to make adjustments to the regulations applicable to clearing houses and liquidating members regarding special accounting criteria and special accounting records, with the object of granting legal certainty regarding natural phenomena that update the assumption for their authorization and the requirements they must meet to demonstrate the adverse impact on the solvency or liquidity of these financial entities and, if applicable, on the stability of the financial system as a whole, or when they are carrying out financial rehabilitation or corporate restructuring processes;

That, in that sense, and in order to provide clearing houses and liquidating members with better elements, the information they must present to obtain the authorization and application of said special accounting criteria and special accounting records is established, which will result in benefit for the stability of the financial system as a whole, and which in turn will allow the National Banking and Securities Commission to better exercise its authorization and supervision powers; for which reason it has resolved to issue the following:

CONSIDERING
(Resolution published on July 6, 2026)

That, on July 25, 2025, the "Resolution that modifies the General Provisions establishing the accounting criteria to which participants in the derivatives contracts market shall be subject" was published in the Official Gazette of the Federation" through which adjustments were made to the regulations regarding special accounting criteria and special accounting records, with the object of

grant legal certainty regarding natural phenomena that trigger the assumption for their authorization and the requirements that must be met to demonstrate the adverse impact on the solvency or liquidity of clearinghouses and liquidating partners, if applicable, on the stability of the financial system as a whole, or, when such financial entities are undergoing financial health or corporate restructuring processes, and

That, in compliance with the provisions of the "General Agreement Establishing Actions for Administrative Simplification and Improvement for Procedures Conducted Before the National Banking and Securities Commission" published in the Official Journal of the Federation on December 31, 2025, as well as Article 24, second paragraph of the National Law to Eliminate Bureaucratic Procedures, it is necessary to modify the "General Provisions Establishing Accounting Criteria to Which Participants in the Derivatives Contracts Market Shall Be Subject" to establish application formats for procedures related to the authorization of special accounting records and special accounting criteria, as well as to reduce the maximum response timeframes of the authority regarding such authorizations, has resolved to issue the following:

REFERENCES
(1) By Resolution (first) published in the Official Journal of the Federation on March 18, 2011, ANNEX 2 is SUBSTITUTED.
(2) Amended by Resolution published in the Official Journal of the Federation on April 19, 2013.
(3) Added by Resolution published in the Official Journal of the Federation on April 19, 2013.
(4) By Resolution published in the Official Journal of the Federation on April 19, 2013, ANNEXES 1 and 2 are SUBSTITUTED.
(5) Amended by Resolution published in the Official Journal of the Federation on July 23, 2015.
(6) By Resolution published in the Official Journal of the Federation on July 23, 2015, ANNEXES 1 and 2 are SUBSTITUTED.
(7) Amended by Resolution published in the Official Journal of the Federation on January 4, 2018.
(8) Modifying Resolution to the Resolution published in the Official Journal of the Federation on November 15, 2018.
(9) Modifying Resolution to the Resolution published in the Official Journal of the Federation on November 4, 2019.
(10) Modifying Resolution to the Resolution published in the Official Journal of the Federation on November 9, 2020.
(11) By Resolution published in the Official Journal of the Federation on December 15, 2021, ANNEX 1, Accounting Criteria A-2, paragraph 13 and D-4, paragraphs 32, 38 and 39 AND ANNEX 2, Accounting Criteria A-2, paragraph 13 and D-4, paragraphs 32, 38 and 39 are AMENDED.
(12) Modifying Resolution to the Resolution published in the Official Journal of the Federation on December 2, 2022.
(13) Amended by Resolution published in the Official Journal of the Federation on September 28, 2023.
(14) Added by Resolution published in the Official Journal of the Federation on September 28, 2023.
(15) Repealed by Resolution published in the Official Journal of the Federation on September 28, 2023.
(16) By Resolution published in the Official Journal of the Federation on September 28, 2023, ANNEXES 1 and 2 are SUBSTITUTED.
(17) Amended by Resolution published in the Official Journal of the Federation on July 25, 2025.
(18) Added by Resolution published in the Official Journal of the Federation on July 25, 2025.
(19) Amended by Resolution published in the Official Journal of the Federation on July 6, 2026.
(20) By Resolution published in the Official Journal of the Federation on July 6, 2026, ANNEX 3 is ADDED.