Home  |  Board of Governors  |  Disclaimer  |  Español
Banco de México's policy on financial market infrastructures

In order to take better advantage of the resources that society counting on, it is indispensable that its members have the means to carry out the transactions of simple, fast, economic and safe way. From the consideration of this social need, the Law of the Banco de México establishes as the Bank's objectives to promote the proper functioning of payment systems and promotes the development of the country's financial system, which implies that the Banco de México must watch that the Financial Market Infrastructures (FMI) works properly.

FMIs are multilateral arrangements between participating institutions, including the system operator, used for clearing purposes, settlement of payments, securities, derivatives and other financial transactions. They regularly establish a set of common rules and procedures, a technological infrastructure and a specialized and appropriate risk management framework. FMIs consist of payment systems, central securities depositories, securities settlement systems, central counterparties, and trade repositories.

Policy and functions document of the Banco de México on financial market infrastructures

The document "Policy and functions of the Banco de México on financial market infrastructures (PDF)", describe the FMIs in Mexico, their interconnections and the operations carried out in them. It also presents the roles played by the Central Bank in infrastructures and details the objectives that the Central Institute pursues in each one of them. This information will allow the authorities, the participants and the general public, to know the structure of the systems through which financial operations flow, contributing to the proper functioning of the financial system and the economy.

According to this document, in Mexico the securities settlement system, DALÍ, the central counterparties, CCV and Asigna, the trade repository operated by the Central Bank, and the Interbanking Electronic Payment System SPEI®, are considered systemically important. The Banco de México’s policy for this kind of systems, is that they must observe the Principles for financial market infrastructures, published by CPSS-IOSCO in April 2012, according to the following dates:

  • SPEI®: 1st July 2016.
  • DALÍ y Asigna: 2nd January 2017.
  • CCV and the trade repository operated by Banco de México: 1st July 2017.