22 July 2018
Visit www.gemalto.com

CFTC gives Eurex go-ahead to clear US OTC derivatives

03 August 2009  |  1433 views  |  0 Source: Commodity Futures Trading Commission

The Commodity Futures Trading Commission (Commission) has issued an Order with respect to the multilateral clearing activities that Eurex Clearing AG (Eurex) intends to undertake in the United States for over-the-counter (OTC) derivative instruments.

Eurex is a central counterparty licensed by the Bundesanstalt für Finanzdienstleistungaufsicht (BaFin) of the Federal Republic of Germany. In the Order, the Commission determined that the supervision that BaFin, in conjunction with Deutsche Bundesbank, provides with respect to the multilateral clearing activities of Eurex satisfies appropriate standards within the meaning of Section 409(b)(3) of the Federal Deposit Insurance Corporation Improvement Act. Accordingly, the Order permits Eurex to operate a multilateral clearing organization for the clearing of OTC derivative instruments in the United States. BaFin and the Commission have entered into agreements providing for the sharing of information regarding the clearing activities of Eurex.

This Order is the fourth action that the Commission has taken on the basis of Section 409(b)(3) of FDICIA, which was added by the Commodity Futures Modernization Act of 2000 (CFMA). Section 409 provides that an MCO for over-the-counter derivative instruments, such as Eurex, may operate in the United States if, among other alternatives, the MCO is supervised by a foreign financial regulator that the Commission, or one of several other United States financial regulators, has determined satisfies appropriate standards.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit iliad-solutions.com/Visit info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13845 views comments | 7 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11459 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10239 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7622 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7484 views comments | 2 tweets | 7 linkedin

Featured job

Basic c Euro 120K, Variable Euro 120K - full ben...
Paris prefered London possible

Find your next job