CFTC Grants Order to LCH.Clearnet Limited
CFTC Grants Order to LCH.Clearnet Limited Permitting Portfolio Margining of Customer Positions in Futures, Foreign Futures, and Cleared Swaps
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order to LCH.Clearnet Limited (LCH), a CFTC-registered derivatives clearing organization, under Section 4d(f) of the Commodity Exchange Act. The order was issued in response to a petition filed by LCH.
The order permits LCH and its clearing members that are registered futures commission merchants to: (1) commingle in an account subject to Section 4d(f) (a cleared swaps customer account) positions in futures, foreign futures, and cleared swaps, and related customer money, securities, and property; and (2) portfolio margin these positions in the cleared swaps customer account.
Source: CFTC
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