The US Commodity Futures Trading Commission sent a signal yesterday to France and Germany that a new EU post-Brexit clearinghouse law can still be shaped to satisfy regulators on both sides of the Atlantic.
A CFTC proposal would defer oversight of foreign clearinghouses to the home country if these facilities do less than 20 percent of their business with American banks and companies.
This plan, if finalized, would allow large clearinghouses such as France-based LCH SA and Germany-based Eurex to be supervised exclusively at home if the regulatory regimes are deemed comparable to that in the US.
CFTC clearinghouse proposal lights new transatlantic path
12 July 2019 10:13pm