CFTC exempts ASX Clear from registration as a derivatives clearing organization


The U.S. Commodity Futures Trading Commission (CFTC) today issued an order of exemption from registration as a derivatives clearing organization (DCO) to ASX Clear (Futures) Pty Limited (ASX). The order is the first issued by the CFTC based on its authority under Section 5b(h) of the Commodity Exchange Act.

This provision permits the CFTC to exempt a clearing organization from DCO registration for the clearing of swaps to the extent that the CFTC determines that such clearing organization is subject to comparable, comprehensive supervision by appropriate government authorities in the clearing organization’s home country.

ASX is Australia’s and one of the world’s leading financial market exchanges which operates in a highly regulated environment overseen by two independent Australian government agencies – The Australian Securities & Investments Commission (ASIC) and the Reserve Bank of Australia (RBA).

ASX Clear (Futures) is the clearing house for Australia’s derivatives and OTC markets.

Subject to the terms and conditions of the order, ASX is permitted to clear proprietary swap positions for its U.S. clearing members.

To see the official ASX Clear announcement click here.

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CFTC exempts ASX Clear from registration as a derivatives clearing organization

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