The U.S. Commodity Futures Trading Commission (CFTC) announced today that it has issued an order granting CME Clearing Europe Limited (CMECE) registration as a derivatives clearing organization (DCO) under the Commodity Exchange Act (CEA).
Under the order, CMECE will be authorized to provide clearing services for U.S. clearing members as well as their customers under Section 5b of the CEA.
The order permits CMECE to provide these clearing services for swaps as well as for futures and options on futures traded on or subject to the rules of a designated contract market.
With CMECE’s registration, 16 DCOs are registered with the CFTC, including seven that are based outside of the United States.
Launched in May 2011, CME Clearing Europe (CMECE) is a London-based clearing house which operates in an English law and European regulatory environment.
CMECE provides multi-asset class clearing services covering OTC transactions and exchange-traded derivatives on CME Europe, the London-based derivatives exchange.