The transatlantic clearing link between The Clearing
Corporation (TCC) and Eurex Clearing has been criticised in
comment letters from the Chicago exchanges. It also became
clear that Eurex Clearing will be required to become a US
registered clearinghouse for the link to be fully
The clearing link, which is planned for launch this month,
was challenged in comment letters to Commodity Futures Trading
Commission (CFTC) over plans for holding accounts in segregated
funds, and in its margin offsets. Both Chicago Board of Trade
(CBoT) and Chicago Mercantile Exchange (CME) argued in separate
comment letters that the TCC-Eurex proposal erroneously
compares its link with previously approved linkages such as the
mutual offset system between CME and Singapore Exchange
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