Commodity Futures Trading Commission (CFTC) said it has been working diligently to complete the process for phase two of the Clearing Corporation (C-Corp)/Eurex transatlantic clearing link, but does not have a time frame for its completion.
Jim Carley, CFTC director, clearing and intermediary oversight, told FO Week that there is no firm timeline for the agency to complete the request by C-Corp for phase two of the link, but insisted that the agency is working hard on it.
"[CFTC] staff are working industriously," Carley said. "Key members of the clearing oversight division and market oversight division are working virtually full...