Market regulation · 01/10/1999

CFTC Grants London Clearing House Exemption for Swap Agreements

The Commodity Futures Trading Commission (CFTC) has adopted an order granting the London Clearing House's petition for an exemption from most provisions of the Commodity Exchange Act, allowing certain swap agreements to be exempt from regulations. The exemption is based on the CFTC's belief that a centralized swaps clearing operation can benefit the over-the-counter derivatives market.