Fitch Ratings Review Of Grupo BMV's Derivatives Clearing House Asigna

On December 15, 2017, the credit rating agency Fitch Ratings ratified Asigna's, credit ratings, according to the following:

The rating agency emphasized the ratings are result of Asigna's strong position in the market, its positive financial outcome, Asigna's solid risk management and financial safeguards framework, as well as the very advanced progress achieved regarding the compliance of the Principles of Financial Market Infrastructures (PFMl's). According to the Rating Agency, the latter has allowed Asigna to progressively strengthen, amongst others, its legal and risk management framework in line with global best practices.

Fitch Ratings also outlined that Asigna's "Cover One" testing not only follows international standards, but it is defined with more conservative methodology than the ones used by other similar clearing houses that operate in a single jurisdiction. "Cover One" refers to the tests of the adequacy of resources with respect to the Clearing Member that would potentially cause the largest aggregate credit exposure to the Clearing House in extreme but plausible market conditions.

Asigna is the derivatives clearing house of Grupo Bolsa Mexicana de Valores.