CFTC delays implementation of OTC collateral rules

15 February 2017 The US Commodity Futures Trading Commission issued on Monday no-action letter 17-11, granting swap dealers time-limited relief from compliance with the obligation to post and collect variation margin from their OTC swaps counterparties. Note however that no-action letter 17-11’s relief expires on 1 September 2017 and is […]

The EU launches CDS clearing obligation

28 April 2016 The EU launches CDS clearing obligation The European Commission published on 19 April 2016 the regulatory technical supplement for credit default swaps (“CDS”), setting out the types of transaction subject to the clearing obligation, as well as the entry into force of the clearing obligation (and frontloading […]

EU grants US CCP equivalency

17 March 2016 EU grants US CCP equivalency The European Commission has accepted US central counterparty (CCP) regulations as equivalent to its own, allowing US CCPs to apply to the European Securities and Markets Authority for derivatives clearing status. This follows the announcement of a common approach to CCP equivalence […]