CFTC Grants First Exemption from Registration as DCO Under New Rules

The CFTC issued an order of exemption from registration as a derivatives clearing organization ("DCO") to ASX Clear (Futures), an Australian clearinghouse. The CFTC noted that this was the first order it has issued based on its authority under CEA Section 5b(h) ("Derivatives Clearing Organizations"), which provides that the CFTC may grant an exemption to a non-U.S. clearing organization if it "determines that the [non-U.S.] derivatives clearing organization is subject to comparable, comprehensive supervision and regulation by . . . appropriate government authorities in the home country of the organization."

See: CFTC Order of Exemption from Registration; CFTC Press Release.