A Derivatives Clearing Organization (DCO) is an entity or system whereby the credit of the clearing organization is substituted for the credit of the parties to a transaction. The purpose of these entities is... more +
A Derivatives Clearing Organization (DCO) is an entity or system whereby the credit of the clearing organization is substituted for the credit of the parties to a transaction. The purpose of these entities is to mutualize or transfer credit risk among participants to a transaction. The term derivatives clearing organization was defined under the Commodity Futures Modernization Act of 2000.
Customer Segregation: Keep It Separate
Order grants exemptive relief from Exchange Act requirements; parallel CFTC relief expected soon.
On December 14, the Securities and Exchange Commission (SEC) issued an order granting exemptive relief (Exemptive Order)...more
In This Issue:
- Financial Industry Developments
· CFTC Final Rule on Clearing of Credit Default Swaps and Interest Rate Swaps
· Fed, Treasury Proposed Amendments to Bank Secrecy Act Definitions...more
TABLE OF CONTENTS
I. Who Does the Dodd-Frank Act Impact? ...1
A. Major Swap Participants...1
1. Category 1: Substantial Position in Swap Categories ...1
2. Category 2: Substantial Counterparty Exposure...more
•General Overview of the Dodd-Frank Act
•Title VII of the Dodd Frank Act: Impact on OTC Derivatives and Energy Trading
•Definitions and applicability
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