No-action letter extending time-limited no-action relief, providing that the Division of Market Oversight will not recommend that the Commission take enforcement action against any eligible affiliate counterparty that executes a swap transaction with another eligible affiliate counterparty without complying with section 2(h)(8) of the Act.

The Division of Market Oversight extended the no-action relief granted in CFTC Letter 15-55 for certain swaps required to be traded on a swap execution facility (SEF) or designated contract market (DCM) to the extent that those swaps were part of a package transaction.

Conditional no-action relief related to CFTC No-Action Letter No. 15-29 with respect to swaps trading on Yieldbroker Pty Limited

On November 7, 2014, in response to a request from ISDA similar to that previously received,6 the Division issued CFTC Letter No. 14-136 extending the relief granted in CFTC Letter No. 14-26 until December 31, 2015. The Division explained that the rationale for relief was unchanged and it needed additional time to assess whether the relief should be permanent.

The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (Commission) herein extends existing no-action relief from requirements in sections 2(h)(8) and 5(d)(9) of Commodity Exchange Act (CEA or the Act) and from requirements in Commission Regulations 37.3(a)(2) and 37.9 for swaps executed as part of certain package transactions.

DCR and DMO Interpretation regarding use by a derivatives clearing organization of a firm or forced trades process. Request for Interpretation Regarding the Applicability of Commission Regulation 37.3(a)(1) and Section 2(h)(8) of the Commodity Exchange Act to Derivatives Clearing Organizations and their Clearing Members.

Conditional no-action relief with respect to swaps trading on certain financial markets that are licensed in Australia and overseen by the Australian Securities & Investments Commission (ASIC).

The Division of Market Oversight is issuing Guidance to swap execution facilities regarding the calculation of projected operating costs or expenses for the purpose of meeting the financial resource requirements under SEF Core Principle 13 and Commission Regulation 37.1303 and clarifies that commissions paid employee-brokers, calculated as a percentage of transaction revenue, do not have to be included in the calculation.

The Division of Market Oversight is issuing a no-action letter that extends No-Action Letter 14-108 and continues to provide relief from (1) the requirement that a SEF obtain documents that are incorporated by reference in confirmations issued under Commission Regulation 37.6(b) prior to issuing the confirmation, and (2) the requirement that a SEF maintain such documents as records. In addition, the division is providing relief from the requirement set forth in Commission Regulation 45.3(a) that SEFs report terms contained in the agreements that are confirmation data.

DMO and DCR issued no-action relief, providing the phased-in compliance for package transactions which include at least one swap that has been made available to trade and is therefore subject to the trade execution requirement as well as no-action relief for the clearing of package transactions.