The Division of Market Oversight issued a letter amending the no-action relief granted November 12, 1999, permitting the International Petroleum Exchange of London Limited (now ICE Futures Europe) to make its electronic trading and order matching system available to its members in the US without obtaining contract market designation pursuant to Sections 5 and 5a of the CEA. The amendment adds additional conditions to ICE Futures Europe’s no-action relief for contracts that it lists that settle against any price of (1) a contract listed for trading on a DCM or DTEF, or (2) a contract listed for trading on an exempt commercial market that has been determined to be a significant price discovery contract. The additional conditions are that ICE Futures Europe set position limits or position accountability levels (including related hedge exemption provisions) on these contracts, publish daily trading information, and provide a daily report of large trader positions and a quarterly report concerning positions held that are above the set position limits.