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Four questions raised by CFTC’s plans for non-US CCPs
The CFTC is working on a new exemptive regime for foreign clearing houses, likely to be based on international principles. The plans raise four key questions for non-US clearing houses and market participants. By Annette Nazareth and Jeffrey Dinwoodie
![cftc-hq cftc-hq](/sites/default/files/styles/landscape_750_463/public/import/IMG/709/167709/cftc-hq-580x358.jpeg.webp?itok=q-cDINPp)
As swaps clearing rules take effect around the world, recognition of foreign clearing houses by domestic regulators is becoming increasingly important – and so are the international standards for clearing houses, the Principles for financial market infrastructures (PFMIs).
The PFMIs are set to play a significant role in a forthcoming US proposal that would allow foreign clearing houses to clear swaps for US market participants without having to register as a derivatives clearing organisation
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