Sign up for free newsletter



CFTC issues no-action letter for Clearing Corporation of India Ltd

The US Commodity Futures Trading Commission (CFTC) has issued a time-limited no-action letter it will not take enforcement action against Clearing Corporation of India Ltd (CCIL) for failing to register as a derivatives clearing organisation (DCO).

The no-action relief is limited to CCIL’s clearing of Indian Rupee-denominated interest rate swaps and Indian Rupee-denominated forward rate agreements for the proprietary trades of US clearing members. 
The no-action relief is effective until the earlier of 31 December 2014, or the date upon which the Commission either registers CCIL as a DCO under Section 5b(a) of the CEA or exempts CCIL from registration under Section 5b(h) of the CEA.
The no-action letter is consistent with earlier no-action letters granting relief with respect to the clearing of proprietary trades of US clearing members.

Eden Rock Capital Management
Wed, 15/06/2016 - 17:30
UBS Global Asset Management
Fri, 06/05/2016 - 14:19
RFA (Richard Fleischman & Associates)
Tue, 05/04/2016 - 14:25
other gfm publications