CME Clearing Europe Limited – s. 144 - Revocation Order

Headnote

On September 25, 2017, the Commission revoked an exemption order (Exemption Order) issued on October 23, 2012 to CME Clearing Europe Limited (CMECE). The Exemption Order exempted CMECE from the requirement to be recognized as a clearing agency under section 21.2(0.1) of the Securities Act (Ontario).

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, CHAPTER S.5, AS AMENDED

(Act)

AND

IN THE MATTER OF

CME CLEARING EUROPE LIMITED

(CMECE)

REVOCATION ORDER

(Section 144 of the Act)

                WHEREAS the Ontario Securities Commission (Commission) issued an order dated October 23, 2012, exempting CMECE, pursuant to section 147 of the Act, from the requirement to be recognized as a Clearing Agency under subsection 21.2(0.1) of the Act (Exemption Order);

                AND WHEREAS CMECE has notified the Commission that CME Group Inc. has made the commercial business decision to close CMECE’s central counterparty clearing service before December 31, 2017;

                AND WHEREAS CMECE has requested to withdraw from its status as an exempt Clearing Agency as of September 25, 2017;

                AND WHEREAS CMECE does not have a place of business or any clearing members in Ontario, no financial contributions have been made to CMECE by persons or companies in Ontario, and no derivatives transactions have been cleared through CMECE in Ontario;

                AND WHEREAS CMECE has filed with the Commission a report on Form 24-102F2 Cessation of Operations Report for Clearing Agency under National Instrument 24-102 Clearing Agency Requirements;

                AND WHEREAS the Commission has determined that revocation of the Exemption Order would not be prejudicial to the public interest;

                THE COMMISSION hereby revokes the Exemption Order pursuant to section 144 of the Act, effective September 25, 2017.

DATED September 15, 2017.

“Philip Anisman”

“Deborah Leckman”