TCC fights back for clearing link

The Clearing Corporation (TCC) said last week that Eurex Clearing should not need to register as a Designated Clearing Organisation (DCO) in the US before the Eurex clearing link is implemented, despite indications from regulators that this may not be the case.

In a submission to Commodity Futures Trading Commission (CFTC), TCC lawyers sharply countered comment letters from CBoT and CME, describing their objections to the link as "simply wrong or entirely irrelevant".

Among the main issues...