No-Action Letter from U.S. Commodity Futures Trading Commission
2012/12/19
JSCC received No-Action Letter dated on December 17th, 2012 from CFTC (U.S. Commodity Futures Trading Commission), providing the exemption from Commodity Exchange Act(CEA) and CFTC regulation, subject to a certain condition, with regard to the obligation for JSCC to register as a derivatives clearing organization(“DCO”) and a JSCC qualified clearing participant member, or a parent or affiliate of a JSCC qualified clearing participant to clear a swap, in terms of JSCC’s CDS and IRS clearing business.
The no-action relief shall expire at the earlier of: (i) December 31, 2013 or (ii) the date upon which JSCC’s IRS Clearing Business is registered as a DCO.
Please refer to press release for the details as follows
http://www.cftc.gov/PressRoom/PressReleases/pr6467-12
No-Action Relief
http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/12-56.pdf
– Contact us –
Japan Securities Clearing Corporation
OTC Derivatives Clearing Service
Tel: 03-3665-1045
Email: otc@jscc.co.jp
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