BCP Executes first PEN NDF Trade on Cboe SEF

Banco de Credito del Peru (BCP) has executed its first direct USD/PEN FX NDF trade through the Chicago Board Options Exchange Swap Execution Facility – the deal means BCP is now transacting with regulated clients in the US marketplace.

BCP leverages Edgewater Markets’ FX technology in Latin America, the latter provides BCP with solutions and executions services for both onshore and offshore clients. Connectivity to Cboe was a natural extension of the BCP offering, demanded by many of their clients domiciled in the United States, the firm says.

“We are thrilled to have SEF regulated clients be able to access to our pricing via Cboe,” says Marco Merino, head of FX trading at BCP. “Through its expansive SEF network we are able to service the US market efficiency, benefiting market participants globally. The technological advances from Edgewater Markets streamlined this process for us, and we value them as a partner.”

Ben Leit, global head of FX sales at Cboe Global Markets, adds, “[We will] continue to grow the breadth of liquidity on our SEF through this partnership with BCP. It will not only help to make us more competitive in the Peruvian marketplace, but will also improve our ever-growing Latin American offering.”

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