The Commodity Futures Trading Commission has issued separate orders of exemption allowing the Japan Securities Clearing Corporation (JSCC) and Korea Exchange, Inc. (KRX) to clear interest rate swaps without registering as derivatives clearing organizations (DCO). The CFTC granted these exemptions after determining that both entities are subject to a comprehensive supervisory and regulatory framework in their home countries.
Continue Reading CFTC Exempts a Japanese Clearing Organization and Korean Exchange From Derivatives Clearing Organization Registration

The Commodity Futures Trading Commission is seeking public comment on a petition by the Japan Securities Clearing Corporation (JSCC) for an order of exemption from registration as a derivatives clearing organization (DCO). Pursuant to temporary no-action relief, JSCC currently allows US clearing members to clear certain swaps, provided that certain conditions are met. In particular,