Federal Register: CFTC Makes Comparability Determination on EU Margin Requirements for Uncleared Swaps
The CFTC comparability determination that European Union margin requirements for uncleared swaps are comparable in outcome to relevant CFTC Regulations was published in the Federal Register. The European Commission approved a similar equivalence decision that CFTC uncleared margin rules are comparable to the EU's requirements.
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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.
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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.