CFTC Staff Sets Conditions for Clearing Organizations Using Trust Companies
Photo: TokenPost
The Commodity Futures Trading Commission’s Division of Clearing and Risk issued a no-action letter Thursday, Nov. 5, addressing derivatives clearing organizations’ use of trust companies for daily settlements with clearing members. The letter permits daily settlement through a trust company if the clearing organization treats it like a settlement bank for purposes of applicable CFTC requirements. The condition applies to the clearing organization using the trust company. The letter addresses daily settlement activity between derivatives clearing organizations and their clearing members. Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
