CFTC Staff Letters

Staff No-Action Relief: Temporary Relief from the Aggregation Requirements of the Commission’s Rule Regarding Position Limits for Futures and Swaps.

Staff No-Action Relief: Temporary Relief for Non-Clearing Member Swap Dealers from the Requirements of § 20.4 of the Commission’s Regulations Regarding Large Swaps Trader Reporting for Physical Commodities.

No-Action Relief from Rescission of Regulation 4.13(a)(4) and Amendments to Regulation 4.5.

Staff No-Action Relief: Temporary Relief for Clearing Members from the Requirements of Ownership-Level Reporting of § 20.4 of the Commission’s Regulations Regarding Large Swaps Trader Reporting for Physical Commodities.

DCR, DSIO and DMO issued a no-action letter that modifies the temporary, no-action relief previously issued by DCIO and DMO from certain self-effectuating provisions of the Dodd-Frank Act and the CEA that took effect on July 16, 2011, but that require further definition and may not be eligible for the exemptive relief provided by an order issued by the Commission on July 14, 2011 pursuant to section 4(c) of the CEA (July 14 Order). The letter extends the no-action relief to, and will expire automatically upon, the earlier of: (1) the effective date of the applicable final rules defining the relevant terms or (2) July 16, 2012. The relief was issued in light of the amended order issued by the Commission on December 19, 2011 which extended the potential latest expiration date of the July 14 Order to July 16, 2012. The relief does not affect any Dodd-Frank Act implementing regulations promulgated by the Commission nor the applicability of any provision of the CEA to futures contracts or options on futures contracts or to cash markets.

The Division of Market Oversight issued a letter granting no-action relief to the Natural Gas Exchange Inc. (“NGX”) and its clearing members in connection with the reporting requirements of new part 20 of the Commission’s regulations. Pursuant to the relief, NGX can itself submit the information required of its clearing members for all cleared positions, in fulfillment of the clearing members’ reporting requirements with respect to cleared positions under regulations 20.4 and 20.5(a). In addition, pursuant to this relief certain NGX clearing members will not be required to report their uncleared positions.

No-Action Relief Request of Taiwan Futures Exchange in Connection with the Offer and Sale in the United States of its Futures Contract based on the GreTai Securities Market Capitalized Weighted Stock Index (“GTEX”).

Euronext Brussels, S.A.’s Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contract Based on the BEL 20 Stock Index.

DCIO and DMO issued a no-action letter that provides temporary, no-action relief from certain self-effectuating provisions of the Dodd-Frank Act and the CEA that otherwise would take effect on July 16, 2011, but that require further definition and may not be eligible for the exemptive relief provided by the order issued by the Commission on July 14, 2011 pursuant to section 4(c) of the CEA. The no-action relief will expire automatically upon the earlier of the effective date of the applicable final rules defining the relevant terms or December 31, 2011 and does not affect any Dodd-Frank Act implementing regulations promulgated by the Commission or the applicability of any provision of the CEA to futures contracts or options on futures contracts or to cash markets.

No-Action Relief Request of Bursa Malaysia Derivatives Berhad in Connection with the Offer and Sale in the United States of its Futures Contract based on the FTSE Kuala Lumpur Composite Index.