CFTC Extends No-Action Relief to Shanghai Clearing House Until 2018
Posted: Mon Nov 20, 2017 3:23 pm
The US Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk has issued a time-limited, no-action letter stating that it will not recommend that the CFTC take enforcement action against Shanghai Clearing House (SHCH) for failing to register as a derivatives clearing organisation, as laid out in the Commodity Exchange Act.
The new letter effectively extends the relief provided earlier last year to the SHCH which expires on November 30, 2017. The extension will last until February 28, 2018, by which time the Shanghai Clearing House will be allowed to temporarily clear certain swaps that are subject to mandatory clearing in ... (read more)