AO Advisory on Risks Associated with Expansion of DCO Clearing of Digital Assets

Advisory that encourages entities using prime brokerage arrangements that provide credit substitution on a centralized basis to examine the specific nature of their activities for the potential need to register as a derivatives clearing organization (DCO).

No-action letter regarding investments of customer funds by futures commission merchants and derivatives clearning organizations in securities benchmarked to the Secured Overnight Financing Rate.

DCR is extending temporary no-action relief for registered derivatives clearing organizations (DCOs) from the daily reporting requirements in CFTC Regulation 39.19(c)(1)(i)(B) and (C) as amended in 2020, so long as that DCO continues to comply with the prior version of Regulation 39.19(c)(1)(B) and (C). This letter shall expire on the earlier of: one year from the date of issuance, or the date on which the Commission finalizes the proposed rule addressing this matter.

Time-limited no-action position for Taiwan Futures Exchange with regard to Section 5b(a) of the Commodity Exchange Act and Commission regulations thereunder.

Accordingly, the conditional no-action relief with respect to Regulation 39.13(g)(8)(iii) is now further extended until the earlier of (a) September 30, 2023 or (b) the effective date of any final Commission action relating to Regulation 39.13(g).

Extension of time-limited no-action relief for Shanghai Clearing House with regard to Section 5b(a) of the Commodity Exchange Act and Commission Regulations thereunder.

DCR is extending through June 27, 2022 temporary no-action relief for registered derivatives clearing organizations (DCOs) from the amended daily reporting requirements in CFTC Regulation 39.19(c)(1), so long as DCOs continue to comply with the prior version of the regulation. DCR also is extending through January 27, 2023 relief from the amended reporting requirements in Regulation 39.19(c)(1)(i)(B) and (C), so long as DCOs continue to comply with the prior version of the regulation.

DCR and MPD are further extending the time limit for conditional, time-limited no-action relief from 39.13(g)(8)(iii), first issued in Letter 19-17 and extended in Letter 20-28 until September 30, 2022. (FIA No-Action Request Extension)

DCR is providing time-limited relief from the swap clearing requirement and related exceptions and exemptions. This relief is to help facilitate the orderly transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks. (ARRC No-Action Relief Extension Request)