This will confirm our conversation today regarding which European  jurisdictions are approved for trading credit derivatives:  the U.K., Sweden,  Norway, Finland and Switzerland.
The European jurisdictions which are not approved to trade credit derivatives  include:  France, Germany, Gibraltar, Ireland, Italy, Scotland, Spain, and  The Netherlands.
For banks incorporated in a non-approved jurisdiction, it  may be possible for them to trade out of a branch located in an approved  jurisdiction (i.e.
U.S. and U.K. branches).
This would have to be  determined on a case by case basis.
Per our conversation, Canada is also not an approved jurisdiction for credit  derivatives.
Please let me know if there are any changes to this list.

Credit Derivatives - Approved Jurisdictions