MEMORANDUM OF UNDERSTANDING 

United States Commodity Futures Trading 

Commission 

BaFin 

Bundesanstalt fiir 

Finanzdienstleistungsaufsicht 

:** I DEUTSCHE *•· BUNDESBANK 

EUROSYSTEM 

Deutsche Bundesbank 

COOPERATION AND THE EXCHANGE OF INFORMATION 

RELATED TO THE SUPERVISION OF CROSS-BORDER CLEARING ORGANIZATIONS 

January 25, 2016 
MEMORANDUM OF UNDERSTANDING CONCERNING COOPERATION 

AND THE EXCHANGE OF INFORMATION RELATED TO THE SUPERVISION 

OF CROSS-BORDER CLEARING ORGANIZATIONS 

In view of the growing globalization of the world's financial markets and the increase in crossborder operations and activities ofregulated entities, the United States Commodity Futures Trading 

Commission and the German Bundesanstalt flir Finanzdienstleistungsaufsicht and Deutsche 

Bundesbank (collectively, "the Authorities") have reached this Memorandum of Understanding 

("MOU") regarding cooperation and the exchange of information in the supervision and oversight 

of clearing organizations that operate on a cross-border basis in both the United States and 

Germany. The Authorities express, through this MOU, their willingness to cooperate with each 

other in the interest of fulfilling their respective regulatory mandates with respect to cross-border 

clearing organizations. 

ARTICLE ONE: DEFINITIONS 

For purposes of this MOU: 

1. "Authority" means: 

a. In the United States, the Commodity Futures Trading Commission ("CFTC"); and 

b. In Germany, the Bundesanstalt flir Finanzdienstleistungsaufsicht ("BaFin") or the 

Deutsche Bundesbank ("Bundesbank"), which cooperate closely in supervising 

banks (including clearing organizations), financial service providers, and investment 

firms (individually, a "German Authority", and together referred to as the "German 

Authorities"). 

2. "Requesting Authority" means the Authority making a request under this MOU. 

3. "Requested Authority" means: 

a. The German Authority to which a request is made under this MOU, where the 

Requesting Authority is the CFTC; or 

b. The CFTC, where the Requesting Authority is a German Authority. 

4. "Laws and Regulations" means: 

a. For the CFTC, the Commodity Exchange Act ("CEA"), Dodd-Frank Wall Street 

Reform and Consumer Protection Act, CFTC regulations, and other applicable legal 

or regulatory requirements in the United States; and 

b. For the German Authorities, the German Banking Act ("Kreditwesengesetz") and 

related ordinances as parts of the German law, the German Securities Trading Act 

("Wertpapierhandelsgesetz"), the German Stock Exchange Act ("Borsengesetz"), the 

Regulation (EU) No. 648/2012 of the European Parliament and of the Council on 

OTC derivatives, central counterparties and trade repositories ("EMIR") and related 

Regulatory Technical Standards as parts of the European Union ("EU") law and 
other applicable legal or regulatory requirements applicable in Germany, and the 

Capital Requirements Regulation ("CRR") and related Regulatory Technical 

Standards as parts of the EU law and other applicable legal or regulatory 

requirements applicable in Germany. 

5. "Person" means a natural person, unincorporated association, partnership, trust, 

investment company, or corporation, and may be a Clearing Member, Clearing 

Participant, or Covered Clearing Organization. 

6. "Covered Clearing Organization" means a central counterparty ("CCP") organized in 

either the United States or Germany that satisfies both of the following criteria: 

a. A derivatives clearing organization ("DCO") that is, or that has applied to be, 

registered as such or that has been granted, or that has applied for, an exemption 

from registration under the CEA; and 

b. A CCP that is, or that has applied to be, authorized or recognized as a CCP under 

EMIR or licensed or exempted from licensure as a credit institution or a financial 

services institution under the Kreditwesengesetz. 

7. "Clearing Member" means a member of a Covered Clearing Organization that also 

serves as an intermediary through which market participants access the Covered 

Clearing Organization's services. 

8. "Clearing Participant" means a participant of a Covered Clearing Organization that does 

not serve as an intermediary, but trades and clears only for its own account as principal. 

9. "Books and Records" means documents, electronic media, and books and records within 

the possession, custody, and control of, and other information about, a Covered Clearing 

Organization. 

10. "Emergency Situation" means the occurrence of an event that could materially impair 

the financial or operational condition of a Covered Clearing Organization. 

11. "Exchange Supervisory Authority" ("ESA") means an authority of one of the 

Bundeslander (German federal states) that has statutory responsibility under the 

Borsengesetz over a Covered Clearing Organization organized in Germany. 

12. "On-Site Visit" means any regulatory visit as described in Article Five to the premises of 

a Covered Clearing Organization for the purposes of ongoing supervision and oversight 

including the inspection of Books and Records. 

13. "Local Authority" means the Authority in whose jurisdiction a Covered Clearing 

Organization that is the subject of an On-Site Visit is physically located. 

14. "Visiting Authority" means the Authority conducting an On-Site Visit. 

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15. "Governmental Entity" means: 

a. If the Requesting Authority is the CFTC, the U.S. Department of the Treasury or the 

U.S. Board of Governors of the Federal Reserve System; and 

b. If the Requesting Authority is the BaFin or Bundesbank, the Bundesministerium der 

Finanzen (Federal Ministry of Finance). 

ARTICLE TWO: GENERAL PROVISIONS 

16. This MOU is a statement of intent to consult, cooperate, and exchange information in 

connection with each of the Authorities' respective functions relating to Covered 

Clearing Organizations. The cooperation and information sharing arrangements under 

this MOU will be interpreted and implemented in a manner and to the extent that is 

permitted by, and consistent with, the laws and requirements that govern each Authority. 

With respect to cooperation pursuant to this MOU, at the date this arrangement is 

executed, each Authority believes that no domestic secrecy or blocking laws or 

regulations should prevent it from providing assistance to any other Authority. The 

Authorities anticipate that cooperation primarily will be achieved through ongoing 

informal consultations, supplemented as needed by more formal cooperation. The 

provisions of this MOU are intended to support both informal consultations and formal 

cooperation, as well as to facilitate the written exchange of non-public information in 

accordance with applicable laws. 

17. This MOU does not create any legally binding obligations, confer any rights, or modify 

or supersede domestic laws or regulations. This MOU does not confer upon any Person 

the right or ability directly or indirectly to obtain, suppress, or exclude any information 

or to challenge the execution of a request for assistance under this MOU. 

18. This MOU is not intended to limit or condition the discretion of an Authority in any way 

in the discharge of its regulatory responsibilities or to prejudice the individual 

responsibilities or autonomy of any Authority. This MOU does not limit an Authority to 

taking solely those measures described herein in fulfillment of its supervisory functions 

or preclude Authorities from sharing information or documents with respect to Persons 

that are not Covered Clearing Organizations, Clearing Members, or Clearing Participants 

but may be subject to regulatory requirements in the United States and in Germany. In 

particular, this MOU does not affect any right of any Authority to communicate with, 

conduct an On-Site Visit of (subject to the procedures described in Article Five), or 

obtain information or documents from any Person subject to its jurisdiction that is 

physically located in the territory of another Authority. 

19. This MOU is intended to complement, but does not alter except where explicitly noted, 

the following existing arrangements: 

a. The Memorandum of Understanding between the United States Commodity Futures 

Trading Commission and the German Bundesaufsichtsamt Fur Den 

Wertpapierhandel ("Ba We") Concerning Consultation and Cooperation in the 

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Administration and Enforcement of Futures Laws (October 17, 1997) ("First 

MOU"). The BaFin is the successor to Ba We and assumes all responsibilities under 

the First MOU. The phrase "futures processing business" within the meaning of 

Section 1.8 of the First MOU shall include the business of clearing swaps as defined 

in Section 1a(4 7) of the CEA and regulations promulgated thereunder. 

b. The MoU concerning consultation, cooperation and the exchange of information 

related to the supervision of covered entities in the alternative investment fund 

industry between the CFTC and BaFin (July 22, 2013). 

c. The IOSCO Multilateral Memorandum of Understanding Concerning Consultation 

and Cooperation and the Exchange of Information (revised May 2012) ("IOSCO 

MMOU") to which the CFTC and BaFin are signatories, which covers primarily 

information sharing in the context of enforcement matters. 

d. The Declaration on Cooperation and Supervision of International Futures Markets 

and Clearing Organizations (as amended March 1998) ("Declaration"), to which the 

CFTC and Ba We are signatories. The BaFin is the successor to Ba We and assumes 

all responsibilities under the Declaration. 

However, this MOU supersedes the CFTC-BaFin Side Letter relating to the First MOU 

(July 28, 2009). 

This MOU will not impact any arrangements that may be entered into between the 

CFTC and the European Securities and Markets Authority ("ESMA") with regard to 

their respective responsibilities in connection with CCPs. 

20. To facilitate cooperation under this MOU, the Authorities hereby designate contact 

persons as set forth in Appendix A, which may be amended from time to time by an 

Authority transmitting revised contact information in writing to the other Authorities. 

ARTICLE THREE: SCOPE OF SUPERVISORY CONSULTATION, 

COOPERATION, AND EXCHANGE OF INFORMATION 

General 

21. The Authorities recognize the importance of close communication concerning their 

supervision of Covered Clearing Organizations and intend to consult regularly, as 

appropriate, regarding: 

a. General supervisory issues, including regulatory, oversight, or other related 

developments; 

b. Issues relevant to the operations, activities, and regulation of Covered Clearing 

Organizations; and 

c. Any other areas of mutual supervisory interest. 

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22. The Authorities recognize in particular the importance of close cooperation in the event 

that a Covered Clearing Organization experiences, or is threatened by, a potential 

financial crisis or other Emergency Situation. 

23. Cooperation will be most useful in, but is not limited to, the following circumstances 

where issues of common regulatory concern may arise: 

a. The initial application for registration or licensure, or exemption therefrom, or 

authorization or recognition, by a Covered Clearing Organization that is registered, 

licensed, exempted, authorized, or recognized in the other jurisdiction; 

b. The ongoing supervision and oversight of a Covered Clearing Organization 

including, for example, compliance with applicable statutory and regulatory 

requirements in either jurisdiction or with international standards; and 

c. Regulatory or supervisory actions or approvals taken in relation to a Covered 

Clearing Organization that may impact the operations of the entity in the jurisdiction 

of the other Authority or Authorities. 

Event-Triggered Notification 

24. As appropriate in the particular circumstances, the CFTC and each German Authority 

endeavors to inform, respectively, the German Authorities or the CFTC promptly, and 

where practicable in advance, of: 

a. Pending regulatory changes that may have a significant impact on the operations, 

activities, or reputation of a Covered Clearing Organization, including those that may 

affect the rules or procedures of a Covered Clearing Organization; 

b. Any material event of which the Authority is aware that could adversely impact the 

financial or operational stability of a Covered Clearing Organization including such 

events as a default or potential default of a Clearing Member or Clearing Participant; 

market or settlement bank difficulties that might adversely impact the Covered 

Clearing Organization; failure by a Covered Clearing Organization to satisfy any of 

its requirements for continued registration, authorization, licensure, exemption, or 

recognition where that failure could have a material adverse effect in the other 

jurisdiction; or any known adverse material change in the ownership, operating 

environment, operations, financial resources, management, or systems and controls 

of a Covered Clearing Organization; 

c. The status of efforts of which the Authority is aware to address any material event 

that could adversely impact the financial or operational condition of a Covered 

Clearing Organization, Clearing Member, or Clearing Participant; and 

d. Enforcement actions or sanctions or significant regulatory actions, including the 

revocation, suspension, or modification of relevant registration or licensure, or 

exemption therefrom, concerning a Covered Clearing Organization. 

25. The determination of what constitutes "significant impact", "material event'', "adversely 

impact", "difficulties", "material adverse effect", "adverse material change", or 

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"significant regulatory actions" for purposes of Paragraph 24 shall be left to the 

reasonable discretion of the relevant Authority that determines to notify the other 

Authority. 

26. Paragraphs 24 and 25 shall not preclude the Authorities from entering into any further 

arrangements relating to notification regarding specific financial or operational issues 

related to a Covered Clearing Organization. 

Request-Based Information Sharing 

27. To the extent appropriate to supplement informal consultations, upon written request, the 

Requested Authority intends to provide to the Requesting Authority the fullest possible 

cooperation subject to the terms in this MOU in assisting the Requesting Authority's 

supervision and oversight of a Covered Clearing Organization, including assistance in 

obtaining and interpreting information that is relevant to ensuring compliance with the 

Laws and Regulations of the Requesting Authority and that is not otherwise available to 

the Requesting Authority. Such requests shall be made pursuant to Article Four of this 

MOU, and the Authorities anticipate that such requests will be made in a manner that is 

consistent with the goal of minimizing administrative burdens. 

28. The cooperation covered by Paragraph 27 includes: 

a. Information relevant to the financial and operational condition of a Covered Clearing 

Organization including, for example, financial resources, risk management, and 

internal control procedures; 

b. Relevant regulatory information and filings that a Covered Clearing Organization is 

required to submit to an Authority including, for example, interim and annual 

financial statements and event-specific notices; and 

c. Regulatory reports prepared by an Authority including, for example, examination 

reports, findings, or information contained in such reports regarding Covered 

Clearing Organizations. 

Periodic Meetings 

29. Representatives of the Authorities intend to meet periodically, as appropriate, to update 

each other on their respective functions and regulatory oversight programs and to discuss 

issues of common interest relating to the supervision of Covered Clearing Organizations, 

including but not limited to: contingency planning and crisis management, the adequacy 

of existing cooperative arrangements, systemic risk concerns, default procedures, and the 

possible improvement of cooperation and coordination among the Authorities. Such 

meetings may be conducted by conference call or on a face-to-face basis, as appropriate. 

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ARTICLE FOUR: EXECUTION OF REQUESTS FOR INFORMATION 

30. To the extent possible, a request for information pursuant to Article Three should be 

made in writing (which may be transmitted electronically), and addressed to the relevant 

contact person in Appendix A. A request generally should specify the following: 

a. The information sought by the Requesting Authority; 

b. A general description of the matter that is the subject of the request; 

c. The purpose for which the information is sought; and 

d. The desired time period for reply and, where appropriate, the urgency thereof. 

Information responsive to the request, as well as any subsequent communication among 

Authorities, may be transmitted electronically. Any electronic transmission should use 

means that are appropriately secure in light of the confidentiality of the information 

being transmitted. 

31. In an Emergency Situation, the CFTC and the relevant German Authority or Authorities 

will endeavor to notify the other(s) of the Emergency Situation and communicate 

information as appropriate in the particular circumstances, taking into account all 

relevant factors, including the status of efforts to address the Emergency Situation. 

During an Emergency Situation, requests for information may be made in any form, 

including orally, provided such communication is confirmed in writing as promptly as 

possible following such notification. 

ARTICLE FIVE: ON-SITE VISITS 

32. In fulfilling its supervision and oversight responsibilities pursuant to, and to ensure 

compliance with, Laws and Regulations, an Authority may need to conduct On-Site 

Visits to a Covered Clearing Organization physically located in the jurisdiction of the 

other Authority(ies). The Authorities will consult and work collaboratively in 

conducting an On-Site Visit. 

33. An On-Site Visit by an Authority will be conducted in accordance with the following 

procedure: 

a. The Visiting Authority intends to provide advance notice to the Local Authority of 

its intent to conduct an On-Site Visit and the intended time frame for, and the 

purpose and scope of, the On-Site Visit. Other than in exceptional circumstances, 

the Visiting Authority will notify the Local Authority prior to notifying the Covered 

Clearing Organization. 

b. The Local Authority will endeavor to share any relevant reports, or information 

contained therein, related to examinations it may have undertaken of the Covered 

Clearing Organization. 

c. The Authorities intend to assist each other regarding On-Site Visits, including 

providing information that the Visiting Authority may request and that is available 

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prior to the On-Site Visit; cooperating and consulting in reviewing, interpreting, and 

analyzing the contents of public and non-public Books and Records; and obtaining 

information from directors and senior management of a Covered Clearing 

Organization. 

d. The Authorities will consult with each other, and the Local Authority may in its 

discretion accompany or assist the Visiting Authority during the On-Site Visit, or the 

Authorities may conduct joint visits where appropriate. 

ARTICLE SIX: PERMISSIBLE USES OF INFORMATION 

34. The Requesting Authority may use non-public information obtained under this MOU 

solely for the supervision and oversight of Covered Clearing Organizations and to ensure 

compliance with the Laws and Regulations of the Requesting Authority. 

35. The Authorities recognize that, while this MOU is not intended to gather information for 

enforcement purposes, the Authorities subsequently may want to use the non-public 

information provided pursuant to this MOU for enforcement purposes. With respect to 

information shared between the CFTC and BaFin, use of non-public information for 

enforcement purposes will be in accordance with the terms and conditions in Paragraph 

10 of the IOSCO MMOU. With respect to information shared between the CFTC and 

Bundesbank, Paragraph 36 applies to such use. 

36. Before using non-public information furnished under this MOU for any purpose other 

than those stated in Paragraph 34 and, for the CFTC and BaFin, Paragraph 35, the 

Requesting Authority must first consult with and obtain the written consent of the 

Requested Authority for the intended use. The reasons for a denial by the Requested 

Authority should be discussed, and the Authorities also should discuss the circumstances 

under which use by the Requesting Authority might be allowed. 

37. If an Authority ("Receiving Authority") receives, via a party that is not a signatory to 

this MOU, non-public information originally provided by another Authority 

("Disclosing Authority") that is related to the Disclosing Authority's supervision and 

oversight of a Covered Clearing Organization and that the Receiving Authority is aware 

was obtained by the third party from the Disclosing Authority on a confidential basis, the 

Receiving Authority will use and treat the information in accordance with the terms of 

this MOU. 

38. The restrictions in this Article do not apply to an Authority's use of information it 

obtains directly from a Covered Clearing Organization, whether during an On-Site Visit 

or otherwise. However, where non-public information is provided to the Requesting 

Authority pursuant to an information-sharing request pursuant to Article Four of this 

MOU, the restrictions in this MOU apply to the use of the information by that 

Requesting Authority. 

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ARTICLE SEVEN: CONFIDENTIALITY OF INFORMATION AND ONWARD SHARING 

39. Except as provided in Paragraphs 40-45, each Authority will keep confidential, to the 

extent permitted by law, non-public information shared under this MOU, requests made 

under this MOU, the contents of such requests, and any other matters arising under this 

MOU. 

40. Each German Authority may share non-public information obtained from the CFTC 

under this MOU with the other German Authority so long as that other German 

Authority uses and treats the information in accordance with the terms of this MOU. 

41. In cases where the BaFin seeks to share non-public information obtained from the CFTC 

pursuant to this MOU with an ESA, prior to sharing such information, the BaFin shall: 

a. Consult with the CFTC and work with the ESA to establish a written arrangement 

for sharing non-public information on an ongoing basis; 

b. Provide the CFTC with adequate assurances that: 

i. The sharing of non-public information between the BaFin and the ESA is 

required pursuant to Article 8, Paragraph 1 of the Borsengesetz and Article 6, 

Paragraph 2 of the Wertpapierhandelsgesetz; 

IL The information that will be shared is required by the ESA for a relevant 

supervisory purpose; 

111. The use and confidential treatment of the information will be governed by 

Article 10 of the Borsengesetz, except that the information shall be used for a 

relevant supervisory purpose and shall not be shared by the ESA with other 

parties without getting the prior written consent of the CFTC; and 

iv. To the extent possible, the BaFin intends to notify the CFTC of any legally 

enforceable demand to the ESA for non-public information furnished under 

this MOU and shared with the ESA. Prior to compliance with the demand, 

the ESA will assert all appropriate legal exemptions or privileges with respect 

to such information as may be available. 

c. Provide the CFTC with prompt notice of any relevant changes to German law or 

requirements and of any changes that would affect the sharing of non-public 

information obtained from the CFTC pursuant to this MOU in accordance with a 

written arrangement with an ESA. 

42. As required by law, it may become necessary for a Requesting Authority to share nonpublic information obtained under this MOU with a Governmental Entity. In these 

circumstances and to the extent permitted by law: 

a. The Requesting Authority intends to notify the Requested Authority; and 

b. Prior to the Requesting Authority sharing the non-public information, the Requesting 

Authority will provide adequate assurances to the Requested Authority concerning 

the use and confidential treatment of the information by the Governmental Entity, 

including, as necessary, assurances that: 

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1. The Governmental Entity has confirmed that it requires the information for a 

purpose within the scope of its jurisdiction; and 

11. The information will not be shared by the Governmental Entity with other 

parties without getting the prior written consent of the Requested Authority. 

43 . As required by EMIR, it may become necessary for BaFin to share non-public 

information obtained from the CFTC under this MOU with the European Banking 

Authority, ESMA, or the European Systemic Risk Board or, with regard to the 

implementation of the Single Supervisory Mechanism in the EU insofar as this is 

necessary for the German Authorities on the basis of EU law in connection with Covered 

Clearing Organizations, the European Central Bank in its function as banking supervisor 

(each an "EU Entity"). In these circumstances and to the extent permitted by law: 

a. The German Authority will notify the CFTC prior to sharing the information and 

indicate the purpose for which the information will be shared with an EU Entity; and 

b. Prior to the German Authority sharing the non-public information, the German 

Authority will provide adequate assurances to the CFTC concerning the EU Entity's 

use and confidential treatment of the information, including, as necessary, assurances 

that: 

i. The EU Entity has confirmed that it requires the information and will use the 

information only for a purpose within the scope of its jurisdiction; and 

11. The information will not be shared by the EU Entity with other parties 

without getting the prior written consent of the CFTC. 

44. Except as provided in Paragraphs 40, 41, 42, 43, and 45, the Requesting Authority must 

obtain the prior written consent of the Requested Authority before disclosing non-public 

information received under this MOU to any non-signatory to this MOU. The 

Requested Authority will take into account the level of urgency of the request and 

respond in a timely manner. During an Emergency Situation, consent may be obtained 

in any form, including orally, provided such communication is confirmed in writing as 

promptly as possible following such notification. If consent is denied by the Requested 

Authority, the Requesting and Requested Authorities will consult to discuss the reasons 

for withholding approval of such disclosure and the circumstances, if any, under which 

the intended disclosure by the Requesting Authority might be allowed. 

45. To the extent possible, the Requesting Authority intends to notify the Requested 

Authority of any legally enforceable demand for non-public information furnished under 

this MOU. When complying with the demand, the Requesting Authority intends to 

assert all appropriate legal exemptions or privileges with respect to such information as 

may be available. 

46. The Authorities intend that the sharing or the disclosure of non-public information, 

including deliberative and consultative materials, such as written analysis, opinions, or 

recommendations relating to non-public information that is prepared by or on behalf of 

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an Authority, pursuant to the terms of this MOU, will not constitute a waiver of privilege 

or confidentiality of such information. 

ARTICLE EIGHT: AMENDMENTS 

47. The Authorities intend periodically to review the functioning and effectiveness of the 

cooperation arrangements between the CFTC and the BaFin and/or the Bundesbank with 

a view, inter alia, to expanding or altering the scope or operation of this MOU should 

that be judged necessary. This MOU may be amended with the written consent of all of 

the Authorities referred to in Paragraph 1. 

ARTICLE NINE: EXECUTION OF MOU 

48. Cooperation in accordance with this MOU will become effective on the date this MOU 

is signed by all of the Authorities. 

ARTICLE TEN: TERMINATION 

49. Cooperation in accordance with this MOU will continue until the expiration of 30 days 

after any Authority gives written notice to the other Authorities of its intention to 

terminate the MOU. If an Authority gives notice of termination, the relevant parties will 

consult concerning the disposition of any pending requests. If an agreement cannot be 

reached through consultation, cooperation will continue with respect to all requests for 

assistance involving a terminating Authority that were made under this MOU before the 

expiration of the 30-day period until all such requests are fulfilled or the Requesting 

Authority withdraws such request(s) for assistance. In the event of termination of this 

MOU, information obtained under this MOU will continue to be treated in the manner 

described under Articles Six and Seven. 

50. If a German Authority terminates the MOU in accordance with this Article, the MOU 

shall remain effective between the CFTC and the remaining German Authority. 

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Timothy G. M ssad 

Chairman 

U.S. Commodity Futures Trading Commission 

12 

President 

Bundesanstalt fiir Finanzdienstleistungsaufsicht 

Andreas Dombret 

Member of the Executive Board 

Deutsche Bundesbank 

Erich Loeper 

Head of Banking and Financial Supervision 

Department 

Deutsche Bundesbank 
APPENDIX A 

CONT ACT PERSONS 

In addition to the following contact information, the CFTC, BaFin, and Bundesbank will exchange 

confidential emergency contact telephone information. 

CFTC 

Jeffrey M. Bandman 

Acting Director, Division of Clearing and Risk 

Commodity Futures Trading Commission 

1155 21 st Street, N.W. 

Washington, DC 20581 

Phone: 202-418-5044 

Fax: 202-418-5547 

Email: jbandman@cftc.gov 

Alternate Contacts: 

Eileen A. Donovan 

Deputy Director, Clearing Policy, Division of Clearing and Risk 

Commodity Futures Trading Commission 

1155 21st Street, N.W. 

Washington, DC 20581 

Phone: 202-418-5096 

Fax: 202-418-5547 

Email: edonovan@cftc.gov 

Julie Mohr 

Deputy Director, Examinations, Division of Clearing and Risk 

Commodity Futures Trading Commission 

1155 21 st Street, N. W. 

Washington, DC 20581 

Phone: 312-596-0568 

Fax: 312-596-0713 

Email: jmohr@cftc.gov 

BaFin 

Thomas Schmitz-Lippert 

Executive Director, Department INT (International Policy/ Affairs) 

Bundesanstalt fur Finanzdienstleistungsaufsicht 

Georg-von-Boeselager-Str. 25 

53117 Bonn, Germany 

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Phone: +49 228 4108 1639 

Email: thomas.schmitz-lippert@bafin.de 

Thomas Eufinger 

Executive Director, Department WA 2 I Asset Management 

Bundesanstalt fur Finanzdienstleistungsaufsicht 

Marie-Curie-StraJ3e 24-28 

D - 60439 Frankfurt/Main 

Phone: +49 228 4108 3135 or2704 

Fax: +49 228 4108 63497 

Email: thomas.eufinger@bafin.de 

Bundesbank 

Christian Denk 

Head of Banking Law and International Banking Supervision Division 

Deutsche Bundesbank 

Postfach 10 06 02 

D- 60006 Frankfurt am Main, Germany 

Phone: +49 69 9566 2155 

Email: christian.denk@bundesbank.de 

Stefan Spamer 

Senior Advisor Banking Law and International Banking Supervision Division 

Deutsche Bundesbank 

Postfach 10 06 02 

D - 60006 Frankfurt am Main, Germany 

Phone: +49 69 9566 2915 

Email: stefan.spamer@bundesbank.de 

Johannes Kaiser 

Head of Section Oversight of Payments and Securities Settlement Systems 

Deutsche Bundesbank 

Postfach 10 06 02 

D - 60006 Frankfurt am Main, Germany 

Phone: +49 69 9566 6607 

Email: johannes.kaiser@bundesbank.de 

Christian Weiss 

Deputy Head of Section Financial Markets Infrastructures, Banking and Financial Supervision 

Deutsche Bundesbank 

Regional Office in Hesse 

D -60329 Frankfurt am Main, Germany 

Phone: +49 69 2388 1240 

Email: christian.weiss l@bundesbank.de 

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