UK CCPs should move contracts to US, says CFTC official

Clearers do not need an exemption to solve EU-US rule clash, conference told

cftc-hq
Commodity Futures Trading Commission headquarters

A conflict between European Union and US rules on the protection of client collateral should be resolved by moving UK-cleared contracts to the US, according to one Commodity Futures Trading Commission (CFTC) official. The alternative would be for the CFTC or the European Securities and Markets Authority to provide an exemption, but Ananda Radhakrishnan, director in the division of clearing and risk at the CFTC, told a conference yesterday that he is "tired of providing exemptions".

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