The US Commodity Futures Trading Commission’s decision to provide three-year no-action relief to Shanghai Clearing House from registering with the regulator could encourage more US banks to sign up as a clearing member, say market participants. It could also indicate the central counterparty is on track to get equivalence, but hurdles around data sharing remain.
On July 31, Brian Bussey, the CFTC’s director of clearing and risk, sent a letter to the SHCH granting the extension that allows the
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