CFTC issue no action letter for HK clearinghouse

The US Commodity Futures Trading Commission’s Division of Clearing and Risk has issued a no action letter stating it will not take enforcement action against the Hong Kong Exchange’s over-the-counter derivatives clearinghouse OTC Clear for failing to register as a derivatives clearing organisation.
The no action letter also extends to US clearing participants of OTC Clear for failure to clear certain interest rate swaps and non-deliverable forwards through a registered DCO, the regulator noted. The no-action relief is effective until Dec. 31, 2014 or the date upon which the commission either
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