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.