CFTC approves LCH.Clearnet for derivatives clearing
25 January 2013 | 2057 views | 0
Today, the Commodity Futures Trading Commission issued to LCH.Clearnet LLC (LCH) (1) a letter approving LCH's revised rulebook and (2) an amended order of registration as a derivatives clearing organization (DCO).
LCH, formerly the International Derivatives Clearinghouse, LLC (IDC), a registered DCO, had requested approval of its revised rulebook following its August 2012 acquisition by LCH.Clearnet Group Limited.
The amended order of registration, which permits LCH to clear, in its capacity as a registered DCO, futures contracts, options on futures contracts, commodity options, and swaps where interest rates and/or currencies constitute the underlying commodity or reference, supersedes the original order of registration that had been issued to IDC in 2008.