The Clearing Corporation (TCC) said last week that Eurex
Clearing should not need to register as a Designated Clearing
Organisation (DCO) in the US before the Eurex clearing link is
implemented, despite indications from regulators that this may
not be the case.
In a submission to Commodity Futures Trading Commission
(CFTC), TCC lawyers sharply countered comment letters from CBoT
and CME, describing their objections to the link as "simply
wrong or entirely irrelevant".
Among the main issues being debated via letters to CFTC is
whether Eurex is required to receive DCO status from
regulators. DCO status has not been mandatory for other
clearing links, but CFTC chairman Jim Newsome said recently
that the regulator was leaning toward that requirement in this
case. Both CBoT and CME have pushed for the DCO requirement for
Eurex, which could further stall Eurex US's rollout and the
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