The CFTC is currently reviewing clearing determinations for two
new classes of swaps.
The CFTC is currently reviewing what would be the first
clearing determination for non-deliverable FX forwards
(NDFs). The clearing determination would cover NDFs in USD
with the following currencies:
- Brazilian real (BRL)
- Russian ruble (RUB)
- Indian rupee (INR)
- Chinese yuan (CNY)
- Chilean peso (CLP)
- Korean won (KRW)
- Colombian peso (COP)
- Indonesian rupiah (IDR)
- Malaysian ringgit (MYR)
- Philippines peso (PHP)
- Taiwanese dollar (TWD)
In addition, the second clearing determination will mandate
central clearing (unless an exception to central clearing
applies) for fixed-for-floating interest rate swaps
denominated in Australian dollars (AUD), Swiss francs (CHF), or
Canadian dollars (CAD). Fixed for floating interest rate
swaps denominated in US dollars (USD), British pounds (GBP), or
Euros (EUR) are already subject to the central clearing
mandate.
