Peru's Superintendency of the Securities Market (SMV) has amended securities clearing and settlement rules and authorization requirements to enable the establishment of a central counterparty (CCP). The CCP is intended to mitigate counterparty risk from settlement defaults and provide infrastructure the Lima Stock Exchange currently lacks for interoperability with the Santiago and Colombian stock exchanges. The changes align with the SMV's 2026 agenda priority of strengthening settlement safeguards for integration with other Pacific Alliance markets. Authorization requirements include minimum capital and a guarantee fund, alongside margin methodologies operating in real time and financial stress testing. The guarantee fund is intended to protect securities settlement and limit financial contagion following participant failures. Governance requirements cover independent specialized committees, including a risk committee, and suitability standards for directors and managers. Operational safeguards include system redundancy, business continuity, disaster recovery and cybersecurity. Membership admission criteria must be transparent and nondiscriminatory.
Peru's Superintendency of the Securities Market adopts central counterparty rules to support regional market integration
Peru's Superintendency of the Securities Market has revised clearing, settlement and authorization rules to enable a central counterparty that would mitigate risk from settlement defaults. Authorization conditions cover capital, a guarantee fund, risk management and operational safeguards. The changes support interoperability with the Santiago and Colombian stock exchanges, consistent with the regulator's 2026 priority of strengthening settlement safeguards for regional integration.