CFTC Extends No-Action Relief to Shanghai Clearing Firm
On July 31, the Commodity Futures Trading Commission’s Division of Clearing and Risk extended no-action relief to the Shanghai Clearing House (SHCH). Originally set to expire on February 28, 2019, the relief is extended until July 31, 2021.
The no-action relief, originally granted in May 2016 and renewed several times, permits SHCH to continue to clear certain swaps subject to mandatory clearing in China for the proprietary trades of SHCH clearing members that are United States persons or their affiliates.
CFTC Letter No. 18-18 is available here.