Mandatory Clearing For Category 3 Entities Approaches
A quick reminder that the CFTC’s mandatory clearing requirement for interest rate swaps and credit default swaps when entered into by non-financial commercial end users (Category 3 Entities) will begin on 9 September 2013. Many major businesses and most public companies are included within the definition of Category 3 Entities. The Commission’s clearing requirement does not however apply to those market participants who are eligible for and elect an exception from clearing because they use derivatives for commercial hedging purposes.
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