CFTC Proposes to Apply Clearing Requirement to Additional Interest Rate Swaps

Skadden, Arps, Slate, Meagher & Flom LLP

Mark D. Young Maureen A. Donley Shekida A. Smith

On June 9, 2016, the Commodity Futures Trading Commission (CFTC) proposed to require interest rate swaps denominated in nine additional currencies to be centrally cleared. The CFTC stated that the proposed rule is intended to make the commission's clearing requirement consistent with those proposed, or already adopted, by regulators in the European Union, Australia, Canada, Hong Kong, Mexico and Singapore.

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