Linklaters launches Global CCP Rulebook Review, providing comprehensive guide to clearinghouse rules

25 September 2014, London: Linklaters has today, in conjunction with the Futures Industry Association (FIA) and Milbank, Tweed, Hadley & McCloy, announced a new guide to the rules of central clearing counterparties (CCPs). The FIA Global CCP Rulebook Review is a subscription service that will  provide a standardized, comprehensive overview and analysis of the rules and procedures governing  certain CCPs, as well as timely updates on changes to the rules and regulatory framework. It will  highlight the issues most relevant to clearing members and end-users as they evaluate evolving regulatory obligations relating to CCPs on a real-time basis.

Walt Lukken, President and CEO of FIA, said: “The FIA Global CCP Rulebook Review will be an invaluable tool to assess the rules and procedures

of clearinghouses around the world. As global regulators implement centralized clearing requirements, there is an increased focus on monitoring the risks associated with clearing derivatives products. Clearing members face a new landscape of  regulatory and capital requirements — one that is changing frequently. The FIA Global CCP Rulebook Review will provide a comprehensive map to this new terrain.”

FIA Global engaged with Linklaters LLP and Milbank, Tweed, Hadley & McCloy to conduct a thorough rule review of CCPs in multiple jurisdictions. With input from FIA Global members, the law firms developed a detailed questionnaire for use as a framework to summarize the key rules and procedures of each CCP. The resulting analyses and continuous updates will help subscribers meet regulatory obligations to conduct due diligence on CCPs.

Michael Voisin, Capital Markets partner at Linklaters said, “The FIA Global CCP Rulebook Review  was designed to help put complex and often changing rules into an easily coherent and consistent  framework. It’s a unique and innovative product with tremendous potential for users of CCPs.”

The FIA Global CCP Rulebook Review will launch in December 2014 -  click here for more information on the FIA Global CCP Rulebook Review.