The Commodity Futures Trading Commission has approved
Eurex’s application for multilateral clearing
organisation status, which will enable US-based customers to
use its clearing facilities for OTC derivatives.
The status approval, awarded on July 31 and effective from
that date, was granted after the US watchdog determined that
the oversight of Eurex’s homeland regulator, the
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin),
in conjunction with Deutsche Bundesbank, "satisfies appropriate
BaFin and the CFTC have agreed to share information
regarding the clearing activities of Eurex.
A Eurex spokesperson in Frankfurt said that the before the
status was awarded, US-based customers were only permitted to
trade Eurex products via the bourse’s order book.
This limited Eurex’s prospects for growth, as some
asset classes are usually traded off-exchange but with an
exchange as a central counterparty.
Eurex submitted its application on March 27, with public
comment solicited by the CFTC until May 13.
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