On June 16 2016 the US Commodity Futures Trading Commission (CFTC) proposed an amendment to CFTC Regulation 50.4(a) that would require certain additional interest rate swaps to be cleared by market participants through either a registered derivatives clearing organisation or a derivatives clearing organisation that has been exempted from registration under the Commodity Exchange Act.
The proposed amendment would make the CFTC's clearing requirement consistent with those proposed or finalised in 2015 or 2016 by Australia, Canada, the European Union, Hong Kong, Mexico and Singapore.
The proposed amendment will be open for public comment for 30 days after it is published in the Federal Register.
For further information on this topic please contact Donna M Parisi, Geoffrey B Goldman or Azam H Aziz at Shearman & Sterling LLP by telephone (+1 212 848 4000) or email ([email protected], [email protected] or [email protected]). The Shearman & Sterling website can be accessed at www.shearman.com.
This article was first published by the International Law Office, a premium online legal update service for major companies and law firms worldwide. Register for a free subscription.
