CFTC defends clearing membership capital requirement
Commissioners argue open access is necessary, but might consider raising the $50 million minimum for CCP membership at the end of the consultation period
The Commodity Futures Trading Commission (CFTC) has defended a proposal to cap the minimum capital requirement set by central counterparties (CCP) on clearing members, but says the current $50 million threshold might be altered at the end of a consultation process.
The suggestion, designed to broaden the membership of clearing houses, was first made in December last year, and a set of proposed rules was filed with the Federal Register on January 20.
If implemented in its current form, the
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