ASX gets first DCO exemption from CFTC
ASX becomes first exempt DCO, and four Asian CCPs have also applied for an exemption
The Commodity Futures Trading Commission (CFTC) has granted Australian Securities Exchange (ASX) the first exemption from registering as a derivatives clearing organisation (DCO), allowing it the permanent right to clear derivatives for US clearing members but not US clients.
Under US rules, central counterparties (CCPs) must apply to the CFTC to become a DCO – effectively a fully recognised
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