Hong Kong to be first jurisdiction to have equivalent clearing house regime
The US Commodity
Futures Trading Commission (CFTC) late on Thursday, called for
public comment on an application by OTC Clearing Hong Kong for
permanent exemption from registration as a derivatives clearing
The move to advance the
clearing house’s application means it could soon
become the first overseas clearing organisation to be granted
permanent exemption from CFTC registration.
Should the application
prove successful it would also see Hong Kong become the first
jurisdiction to be recognised as having an equivalent clearing
house regime to the US.
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