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Final Rules for Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member Risk Management
5 April 2012
The Commodity Futures Trading Commission has recently adopted final rules to implement:
the prohibition of certain terms in the documentation between a customer and a futures commission merchant that clears trades on behalf of the customer;
the timing of acceptance and rejection of trades for clearing by a derivatives clearing organization and its clearing members; and
certain risk management procedures of futures commission merchants, swap dealers and major swap participants that are also clearing members.
In general, these rules will become effective on October 1, 2012.
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