On December 18, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission extended the no-action relief previously granted to four foreign clearing organizations: ASX Clear (Futures) Pty Limited, Clearing Corporation of India Ltd., Korea Exchange, Inc. and OTC Clearing Hong Kong Limited.
Pursuant to the relief, the four clearing organizations will be permitted to continue to clear certain proprietary trades of US clearing members, subject to reporting conditions, without being required to be registered as derivatives clearing organizations under Section 5b(a) of the Commodity Exchange Act.
This relief is set to expire on December 31, 2015.
CFTC Letter No. 14-148 is available here. CFTC Letter No. 14-149 is available here. CFTC Letter No. 14-150 is available here. CFTC Letter No. 14-151 is available here.