CFTC close to setting out DCO exempt pathway for foreign CCPs
Hot on the heels of HKEx becoming the latest CCP to be granted no-action relief to service US bank branches, the CFTC is edging towards a new set of rules for foreign CCPs not seeking a full DCO licence
The Commodity Futures Trading Commission (CFTC) is close to finalising a derivatives clearing organisation (DCO) exempt route for foreign clearing houses, which will broaden the avenues available for clearing, according to legal sources.
In Asia, Singapore Exchange is so far the only central counterparty (CCP) to achieve status as a DCO, which allows it to fully service all US persons that wish to
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