The Council of the European Union updated a proposal to require systemically significant foreign central counterparties to adopt the EMIR and adhere to regulation by the European Securities and Markets Authority and the European Central Bank.
The European Commission recognized certain CFTC-regulated DCMs and SEFs as "eligible for compliance" with EU trading obligation for certain derivatives.
The CFTC and EU made comparability determinations on margin requirements for uncleared swaps. The CFTC also announced agreement on a common approach to regulating derivatives trading venues.
The CFTC Division of Swap Dealer and Intermediary Oversight extended time-limited no-action relief to swap dealers subject to both U.S. and European margin requirements for uncleared swaps. The relief was extended from May 8, 2017 until November 7, 2017.
The CFTC Division of Swap Dealer and Intermediary Oversight granted time-limited no-action relief to swap dealers that are subject to both U.S. and European margin requirements for uncleared swaps.
The CFTC and the European Securities and Markets Authority ("ESMA") signed a Memorandum of Understanding regarding ESMA's recognition of U.S. derivatives clearing organizations as central counterparties.
