Extension of No-Action Relief: Transaction-Level Requirements for Non-U.S. Swap Dealers

The Division of Clearing and Risk published a letter interpreting Section 2(h)(7)(C)(iii) of the Commodity Exchange Act.

The Division of Market Oversight and the Division of Clearing and Risk are issuing a no-action letter that provides relief similar to that provided in No-Action Letters 13-66 and 14-50 by permitting swap execution facilities (SEFs) and designated contract markets (DCMs) to address clerical or operational errors that cause a swap to be rejected from clearing. The relief provided in this letter also permits SEFs and DCMS to address clerical or operational errors discovered after a swap has been cleared.

Extension of time-limited no-action relief with respect to certain Commodity Exchange Act provisions that may apply to Southwest Power Pool, Inc. and/or its participants

Time-limited no-action relief for LCH.Clearnet Limited with regard to Regulations 1.20(g)(4) and 22.5.

Time-limited no-action relief for ICE Clear Europe Limited with regard to Regulation 1.20(g)(4).

Time-limited no-action relief for the Chicago Mercantile Exchange, Inc. with regard to Regulations 1.20(d) and 22.5(a).

Time-limited no-action relief for Korea Exchange, Inc. with regard to Section 5b(a) of the Commodity Exchange Act and Commission Regulations thereunder.

Extension of joint no-action relief granted by DCR and DMO on September 27, 2013, allowing LCH.Clearnet Ltd to clear contracts listed for trading on Nodal Exchange LLC.

Extension of no-action relief granted by DCR on September 23, 2013, allowing LCH.Clearnet Ltd to clear swaps executed on designated contract markets and swap execution facilities.