CME Clearing Europe Asks CFTC To Yank Its Registration In U.S.
March 14 2012 - 5:45PM
Dow Jones News
Futures exchange CME Group Inc. (CME) has asked the Commodity
Futures Trading Commission to pull its registration of CME Clearing
Europe Limited from the U.S. agency's supervision.
CME's order asking the CFTC to "vacate" the registration of CME
Clearing Europe as a derivatives clearing organization in the U.S.
comes as the unit is fully registered with the U.K. Financial
Services Authority, a spokesman said Wednesday.
CME Clearing Europe had filed with the CFTC for DCO status last
year, and it was approved in September.
The unit "subsequently determined, in consultation with its
clearing membership and its governing committees, that at this time
it should remain subject only to FSA regulatory oversight," the
spokesman said.
The CFTC, at the request of CME and pursuant to section 7 of the
Commodity Exchange Act, issued an order on Tuesday vacating the
registration of CME Clearing Europe as a DCO, according to the
regulator's website.
-By Katy Burne, Dow Jones Newswires; 212-416-3084;
katy.burne@dowjones.com
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