No-Action relief granted to registered floor traders from compliance with certain conditions in paragraph (6)(iv) of the "swap dealer" definition in CFTC regulation 1.3.

The Division of Clearing and Intermediary Oversight provided an Interpretation that a software vendor would not be an introducing broker (“IB”) as defined in Commodity Exchange Act Section 1a(23) and Commission Regulation 1.3(mm) as a result of providing its customers a software application with the ability to route orders for the purchase or sale of commodity futures and options contracts to a futures commission merchant (“FCM”) or IB of their choice.

The Division of Clearing and Intermediary Oversight issued an interpretation that a technology service provider is not an introducing broker (IB) and, therefore, is not required to register as such, as a result of providing its customers with an internet-based software application with the ability to route orders for the purchase or sale of commodity futures and options to an IB or futures commission merchant (FCM) of their choice in connection with related cash market transactions.