This no-action letter extends until January 15, 2021, the relief previously provided by CFTC Staff Letter 20-19, which, in turn, extended the time period for certain no-action relief provided in CFTC Staff Letters 20-02, 20-03, 20-04, 20-05, 20-06, 20-07, and 20-09, each issued on March 17, 2020 (the ""COVID-19 Letters"").

DMO is providing time-limited relief from the trade execution requirement in order to 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.

This letter extends the time period of certain no-action relief provided in CFTC Staff Letters Nos. 20-02, 20-03, 20-04, 20-05, 20-06, 20-07, and 20-09, each issued on March 17, 2020 (the “COVID-19 Letters”) until September 30, 2020.

No-action relief from certain Commission regulations with respect to certain warrants listed on foreign exchanges.

DMO, DCO, and DSIO issue this advisory to remind DCMs, FCMs, and DCOs that they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing.

No action relief for DCMs relating to trading floor closure in connection with the COVID-19 pandemic response.

DMO will not recommend that the Commission take an enforcement action against any SEF or SEF CCO for failure to submit an ACR within the 60-day period prescribed in Commission regulation 37.1501(f)(2), provided that: (a) the ACR was required to be submitted to the Commission prior to September 1, 2020, pursuant to Commission regulation 37.1501(f)(2); and (b) the ACR is submitted to the Commission not later than 120 days after the end of the SEF’s fiscal year.

Subject to the conditions specified in the letter, DMO will not recommend that the Commission take an enforcement action against any SEF for the failure to comply with Commission regulations 37.205(a)-(b), 37.400(b), 37.406, 37.1000(a)(1), and 37.1001 to the extent that non-compliance arises from the inability of SEFs to record voice communications as a result of the displacement of voice trading personnel from their normal business sites in connection with the COVID-19 pandemic response.

This relief revises CFTC Staff No-Action Letter 17-27 with respect to the error correction process for cleared erroneous swaps.

No-action relief from the trade execution requirement to facilitate an orderly transition from the inter-bank offered rates to alternative risk-free rates.