CFTC to simplify route for clearing houses to be exempt DCOs
US regulator will pursue a quicker route to exempt foreign CCPs
The Commodity Futures Trading Commission (CFTC) will issue an order to create a fast track for clearing houses operating under no-action relief rules to gain exempt status and continue to clear for US banks.
Several central counterparties (CCPs) in Asia have been waiting on the US regulator to lay out a plan for them to apply to be an exempt derivatives clearing organisation (DCO) rather than go through the full DCO process as they do not wish to clear for US customers. But matters have been held
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