CFTC Approves Substituted Compliance Framework In Follow-Up To The Recent Equivalence Agreement Between The US And The EU - Division Staff Simultaneously Provides Relief For Dcos/Ccps From Certain Cftc Regulations

The U.S. Commodity Futures Trading Commission (CFTC) today unanimously approved a substituted compliance framework for dually-registered central counterparties (CCPs) located in the European Union (EU), together with a comparability determination with respect to certain EU rules. Today’s action follows the historic agreement between the CFTC and the European Commission regarding dually-registered derivatives clearing organizations (DCOs)/CCPs and represents a major step in paving the way for the EU’s recognition of U.S. CCPs. [See CFTC-EU Common Approach]