Sign up for free newsletter

 

Regulation

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.


Subscribe to free daily newsletter
latestjobs
Junior Interest Rates Sales

Mon, 27 Jul 2015 00:00:00 GMT

Equity Capital Markets Investment Banking Analyst

Mon, 27 Jul 2015 00:00:00 GMT

Bulge Bracket Investment Banking Asso (Healthcare)

Mon, 27 Jul 2015 00:00:00 GMT

events
3 weeks 5 days from now - New York
4 weeks 6 days from now - Texas
6 weeks 17 hours from now - New York
specialreports