Eurex is pushing back crucial elements of its plans for a
transatlantic clearing link until at least the third quarter,
having conceded that it needs regulatory approval.
In an agreement with Commodity Futures Trading Commission
(CFTC), Eurex said it would wait until at least Q3 before
asking CFTC to approve the use by Eurex US, directly or
indirectly, of "any clearing organisation that is not a
Commission registered derivatives clearing organisation
Eurex is therefore likely to apply for DCO status for its
European clearinghouse, Eurex Clearing, a move which exchange
officials previously said was unnecessary. It also means target
dates for the phased launch will not be met.
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