For Release: May 14, 2001
CFTC Proposes Rules for Derivatives Clearing Organizations
Washington — The Commodity Futures Trading Commission (CFTC) today announced that it is proposing rules to implement the provisions of Section 5b of the Commodity Exchange Act (Act) which provides for Commission regulation of certain derivatives clearing organizations. The proposed rules apply to registered derivatives clearing organizations (DCO), applicants for registration, and entities required to be registered under the Act. They specify the form and provides guidance for the content of applications for DCO registration and the procedures for processing DCO applications. They also include provisions assisting the Commission in carrying out its oversight responsibilities with respect to the operations and activities of DCOs and in enforcing compliance by DCOs with the core principles and other provisions of the Act and regulations.
The proposed new rules were published in the Federal Register on May 14, 2001. Copies may be obtained by contacting the Office of the Secretariat, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100, or by accessing the Commodity Futures Trading Commission website. Public comments on the proposed rule must be received at the Office of the Secretariat on or before June 13, 2001.