No-action relief from specified Part 39 regulations applicable to derivatives clearing organizations due to Eris Clearing, LLC’s fully-collateralized clearing model.

Exemption from specified Part 39 regulations applicable to derivatives clearing organizations due to LedgerX’s fully-collateralized clearing model.

The CFTC’s Division of Clearing and Risk (the “Division”) issued a no-action letter providing limited no-action relief for derivatives clearing organizations (“DCOs”) that are registered with the Commission and are authorized to operate as central counterparties (“CCPs”) in the EU from the application of Commission regulations to discrete aspects of their non-U.S. clearing activities.

Grant of No-Action Relief with Regard to Regulations Implementing Sections 5b(c)(2)(A) and 5b(c)(2)(C) of the Commodity Exchange Act.

ISDA indicates that the industry should be able to review all swaps within 10 minutes after execution by May 1, 2016. Other industry participants have indicated that they should be able to do so by August 1, 2016. Therefore, the AQATP standard may be met if trades are routed to and received by the relevant DCO no more than 10 minutes after the execution of the trade, effective on August 1, 2016 and thereafter. Staff notes that the reporting obligations of SEFs and DCMs contained in Regulations 43 and 45 are not affected by this letter.

No-Action Relief is provided to swap dealers from compliance with certain Commission regulations related to business conduct standards with counterparties and swap trading relationship documentation when entering into swaps with certain special purpose vehicles in existence prior to October 10, 2013.

North American Derivatives Exchange, Inc. (Nadex) requested interpretative guidance concerning certain provisions of the Commission’s Part 39 regulations applicable to derivatives clearing organizations due to the unique nature of Nadex’s business model.

North American Derivatives Exchange, Inc. (Nadex) requested exemptive relief from certain provisions of the Commission’s Part 39 regulations applicable to derivatives clearing organizations due to the unique nature of Nadex’s business model.

The Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides relief for certain regulatory obligations of SDs and MSPs in the context of an “Intended-To-Be-Cleared Swap,” which, as defined in the letter, is a swap that is: (i) of a type accepted for clearing by a DCO, and (ii) intended to be submitted for clearing contemporaneously with execution. The relief extends to certain requirements under the External BCS and Commission Regulation 23.504, subject to the conditions and limitations set forth in the letter. This letter supersedes Letter No.

No-Action Relief: Swaps Intended to be Cleared - Request for relief from certain disclosure and notice requirements and other duties imposed on swap dealers (SDs) and major swap participants (MSPs) pursuant to Commission regulations 23.402, 23.430, 23.431, 23.432, 23.434, 23.440, 23.450, and 23.451, as well as certain documentation requirements imposed on SDs and MSPs pursuant to Commission regulation 23.504.