Law360, New York (May 23, 2012, 8:05 PM ET) -- When the Financial Stability Oversight Council designated derivatives clearinghouses owned by CME Group Inc. and Intercontinental Exchange Inc. as nonbank systemically significant financial institutions Tuesday, the regulating body was taking a necessary and politically simple first step, observers say.
FSOC, a group of the heads of the nation's financial regulatory agencies created by the Dodd-Frank Act, designated an “initial set” of financial market utilities as SIFIs, meaning that they will have to do with heightened regulatory requirements. The designation of the two clearinghouses as well as...
Clearinghouses Easy 1st Target For Systemic Designation
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