CFTC Grants French Entity Registration as a Derivatives Clearing Organization

The CFTC has granted Banque Centrale de Compensation, doing business as LCH.Clearnet SA (LCH.C SA), registration as a derivatives clearing organization ("DCO") pursuant to CEA Section 5b ("Derivatives Clearing Organizations"). LCH.C SA, a subsidiary of LCH.Clearnet Group, Ltd., is organized under the laws of France and is primarily regulated in France. The CFTC stated that, subject to the terms and conditions of the Order, LCH.C SA is authorized to provide clearing services for credit default swaps.

See: CFTC Press Release.Related news: CFTC No-Action Letter 13-52: LCH.Clearnet Ltd and Clearing Members (September 23, 2013); SEC Issues No-Action Relief to LCH.Clearnet SA and Clearing Members for Spun-out Components of Index CDS (September 30, 2013).