Asian clearing houses waiting for CFTC to outline DCO exemption process

waiting-for-interview

Several Asian clearing houses are waiting for the Commodity Futures Trading Commission (CFTC) to outline its proposals to allow non-derivatives clearing organisations (DCOs) to serve US clients – a situation with potentially serious business implication given the imminent start of client clearing in the region.

Under US rules, central counterparties (CCPs) must either apply to the CFTC to become a DCO or obtain a possible exemption in order to serve US persons. In effect this would be like a sub

To continue reading...