CFTC exempts Japan’s JSCC and Korea’s KRX as derivatives clearing organizations


The U.S. Commodity Futures Trading Commission (Commission) today issued order of exemptions from registration as a derivatives clearing organization (DCO) to Japan Securities Clearing Corporation (JSCC) and Korea Exchange, Inc. (KRX). The Commission issued this order based on its authority under Section 5b(h) of the Commodity Exchange Act.

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

Subject to the terms and conditions of the order, JSCC and KRX are permitted to clear proprietary interest rate swap positions of U.S. persons that are clearing members of JSCC and KRX or affiliates of such clearing members.

Click here for the JSCC announcement and you can view the KRX announcement here.

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CFTC exempts Japan's JSCC and Korea's KRX as derivatives clearing organizations

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