19 October 2017
visit www.response.ncr.com

SEC OKs ICE Clear and Eurex for CDS clearing

24 July 2009  |  1293 views  |  0 Source: Securities and Exchange Commission

The Securities and Exchange Commission today took further action to help regulate over-the-counter derivatives by approving conditional exemptions that will allow ICE Clear Europe Limited and Eurex Clearing AG to operate as central counterparties (CCPs) for clearing credit default swaps.

These conditional exemptions provide the SEC with regulatory oversight of the central counterparty, and should enhance the quality of the credit default swap market and the Commission's ability to protect investors.

"Today's actions represent an additional piece in the Commission's ongoing efforts, in coordination with other regulators, to promote central clearing as part of a regulatory framework for credit default swaps," said SEC Chairman Mary L. Schapiro. "By facilitating the use of CCPs, these conditional exemptions should help in addressing concerns about counterparty risk, market transparency and market integrity associated with the credit default swap market, and thereby contribute to the goal of reducing systemic risk."

On Dec. 24, 2008, the SEC approved temporary exemptions allowing LCH.Clearnet Ltd. to operate as a central counterparty for credit default swaps. On March 6, 2009 and March 13, 2009, respectively, the SEC approved similar temporary exemptions for ICE US Trust LLC and the Chicago Mercantile Exchange, Inc. The SEC is soliciting public comment on all aspects of these exemptions to assist in its consideration of any further action that may be needed in this area.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15783 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8942 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8030 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7134 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6279 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job