MexDer: The Mexican swaps wave
New rules on OTC derivatives clearing in Mexico are expected soon - and the country's derivatives exchange already has one answer. By Joe Rennison
When CME Group announced on September 18 it was launching a futures version of the over-the-counter interest rate swap, market participants saw an opportunity to avoid the OTC market’s punishing new regulatory regime.
But despite grabbing the market’s imagination, CME is not the first exchange to offer swap futures; many know Eris Exchange launched its own contract in September 2010, and that design flaws sunk a version launched by International Derivatives Clearing Group in 2009 (Risk November
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