Cecoban

Cecoban (Centro de Compensación Bancaria), operating as Cecoban S.A. de C.V., is a private corporation owned by Mexican banks that functions as the country's primary automated clearing house operator. The company operates the Cámara de Compensación Electrónica Nacional (CCEN), which was implemented in 2001 and serves as the national clearing platform for low-value, high-volume interbank transactions in Mexico. Cecoban is authorized and regulated by Banco de México (the central bank) under the Financial Services Arrangement Act, which empowers the central bank to oversee clearing houses and grant operating licenses. The central bank maintains oversight through a seat on Cecoban's board with veto power, and all changes to CCEN's internal rules require central bank approval. CCEN processes multiple types of transactions, including interbank cheques denominated in Mexican pesos and US dollars, deferred credit transfers, and direct debits. Settlement of cleared transactions occurs through SICAM, the central bank's Sistema para Liquidación de Cámaras, which interfaces with SIAC, the real-time gross settlement system. Banks seeking to participate in CCEN must be authorized in Mexico and receive certification from Cecoban. The platform implemented the CLABE (Clave Bancaria Estándar) standardized account numbering system in 2004 to facilitate interbank transactions. While CCEN processes significant transaction volumes, industry observers have noted that the system's connectivity remains restricted to banks and that some aspects of the infrastructure are considered outdated compared to modern automated clearing house systems in other markets. Cecoban plays a critical role in Mexico's payment system infrastructure, though it operates as a deferred settlement system rather than a real-time payment platform.