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An Overview of the Regulation of Derivatives Clearing Organizations

An Overview of the Regulation of Derivatives Clearing Organizations. Ananda Radhakrishnan, Special Counsel Division of Clearing and Intermediary Oversight. Regulation of clearing houses –. Certain Derivatives Clearing Organizations (“DCOs”) are required to register with the CFTC

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An Overview of the Regulation of Derivatives Clearing Organizations

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  1. An Overview ofthe Regulation of Derivatives Clearing Organizations Ananda Radhakrishnan, Special Counsel Division of Clearing and Intermediary Oversight

  2. Regulation of clearing houses – • Certain Derivatives Clearing Organizations (“DCOs”) are required to register with the CFTC - Which DCOs are required to register? - Registration requirement imposed by Section 5b(a) of the Commodity Exchange Act • Exceptions to requirement to register as DCO Commodity Futures Trading Commission

  3. Regulation of clearing houses – Core Principles • Compliance with thirteen (13) DCO Core Principles • These Core Principles are imposed by Section 5b(c)(2) of the Commodity Exchange Act. • The CFTC has the responsibility to oversee DCOs to ensure continued compliance with DCO Core Principles. - Advisory No. 02-01 Commodity Futures Trading Commission

  4. Who can clear? • Organizational structure of clearing houses • DCOs currently registered with the CFTC Commodity Futures Trading Commission

  5. THE END Thank you for your interest in the Division of Clearing and Intermediary Oversight

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