Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, December 7, 2009

SEC Extends Exemptions to Permit ICE Trust to Operate as Central Couunterparty for CDSs

On Dec. 4, 2009, the SEC approved an extension and modification of temporary exemptions that allow ICE Trust U.S. LLC (f/k/a ICE US Trust LLC) to operate as a central counterparty for clearing credit default swaps. On March 6, 2009, the SEC previously granted ICE Trust a similar exemption that was scheduled to expire on Dec. 7, 2009. The SEC's December 4th action extends the exemptions that were set to expire and expands them to address additional credit default swap clearing arrangements.

The SEC is soliciting public comment on all aspects of these exemptions to assist in its consideration of any further action that may be needed in this area. (Rel. 34-61119)

http://lawprofessors.typepad.com/securities/2009/12/sec-extends-exemptions-to-permit-ice-trust-to-operate-as-central-couunterparty-for-cdss.html

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