Epic Research : SGX approved for US derivatives clearing

It requires that to the extent possible, such derivatives, or swaps, be processed through clearing houses, to help safeguard against fallout from a big default.
A clearing house stands between two parties to a trade, ensuring the deal proceeds even if one side defaults.
Under Dodd-Frank any clearing house wanting to clear swaps for a US customer – referred to as a “U.S. person” – must be approved by the Commodity Futures Trading Commission (CFTC), the U.S. regulator charged with producing the implementing regulations for Dodd-Frank. 

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