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On February 26, Fabio Panetta, Executive Board Member at the European Central Bank (ECB), gave a speech on cross-border co-operation within the central counterparty (CCP) community. The speech was given at the Second Joint Bundesbank/ECB/Federal Reserve Bank of Chicago Conference on CCP Risk Management.
Continue Reading ECB Speech on Central Clearing

On November 28, the Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) and Division of Market Oversight (DMO) each extended previously issued no-action relief from clearing and trade execution requirements for certain inter-affiliate transactions. As discussed in the November 20, 2015 edition of the Corporate & Financial Weekly Digest, DMO previously provided time-limited no-action relief exempting certain affiliates from the trade execution requirement. This relief is available to affiliate counterparties that satisfy CFTC regulation 50.52(a) but not 50.52(b), (c) or (d), and are not exempt from clearing. DMO has extended its relief to December 31, 2017.
Continue Reading CFTC Extends Time-Limited No-Action Relief From the Clearing and Trade Execution Requirements for Certain Affiliated Counterparties

The Commodity Futures Trading Commission will host a roundtable on October 6 to gather feedback in relation to a report on central counterparty resilience and recovery recently published by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO). Roundtable panelists will include US derivatives clearing organizations (DCOs), their…

A senior European official has stated that the European Union has no immediate plans to push for the euro-denominated clearing business of London clearinghouses to relocate inside the Eurozone. Speaking at an event in Washington, DC, Valdis Dombrovskis, the member of the European Commission (Commission) responsible for financial services, noted that among the many issues…