OTC Clearing Hong Kong Limited has been exempted from registering as a derivatives clearing organization by the Commodity Futures Trading Commission in connection with its swaps clearing activities. The CFTC granted this relief to OTC Clear because it found the clearinghouse is subject to “comparable, comprehensive supervision and regulation” by its home regulator, the HK Securities and Futures Commission. Under the CFTC’s exemption, OTC Clear may now clear proprietary interest rate swap positions of US persons that are OTC Clear clearing members or affiliates of clearing members.