CFTC Issues Orders Greenlighting Two Non-U.S. DCOs

The CFTC issued Orders permitting the clearing activities of the Taiwan Futures Exchange and ICE NGX Canada.

Order Exempting Taiwan Futures Exchange from DCO Registration

The CFTC issued an Order exempting the Taiwan Futures Exchange (TAIFEX) from registration as a derivatives clearing organization (DCO).

The CFTC Order permits TAIFEX to clear proprietary swap positions for its U.S. clearing members, or affiliates of such clearing members, subject to the terms of the Order. The swaps covered by the Order include, but are not limited to, Taiwan dollar ("TWD")-denominated interest rate swaps and U.S. dollar/TWD non-deliverable forwards.

Order Permitting ICE NGX to Clear Environmental Contracts

The CFTC amended the DCO registration for ICE NGX Canada, Inc. (NGX) to permit NGX to clear contracts based on environmental products (i.e., contracts for the delivery of environmental credits, offsets, and similar instruments). Subject to the terms of the amended order, NGX is authorized to provide clearing services for foreign futures, options on foreign futures and swaps based on energy products or environmental products.

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