CFTC slams clearing equivalence efforts

The Commodity Futures Trading Commission has slammed current efforts for mutual recognition of clearing regimes when European buyside firms attempt to access US clearinghouses. Ananda Radhakrishnan, director of the division of clearing and risk at the CFTC, called on the IntercontinentalExchange and LCH.Clearnet to clear its futures contracts exclusively at US designated contract markets, removing the need for equivalence in Europe.