CFTC issue no action letter for HK clearinghouse

CFTC 230
By Daniel O'Leary
07 May 2014

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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options