Korea Exchange (KRX) has obtained an acknowledgement as an Derivatives Clearing Organization (DCO)* from the U.S. Commodity Futures Trading Commission (CFTC)** on October 26, 2015. * Derivatives Clearing Organization (DCO) is the term for CCPs in the Commodity Exchange Act in the U.S. ** CFTC is an agency that regulates the derivatives market on and off exchanges in the U.S. In order to clear the trades of U.S. persons, a clearing entity should be acknowledged by the CFTC by either registering as a DCO or obtaining an exemption from registration. * DCO registration involves a direct regulation of KRX by the CFTC and it can cause an overlap in supervisory authority issue between the U.S. and the Korean government. Therefore KRX pursued “exemption from DCO registration”. |
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FTSE Mondo Visione Exchanges Index:
KRX Obtained An Acknowledgement As A Clearing Organization From CFTC
Date 29/10/2015