Deposit of customer funds in UK firms to be permitted. The Division of Swap Dealer and Intermediary Oversight issued an interpretation that permits futures commission merchants to deposit customer funds margining foreign futures positions with UK-licensed investment firms that hold such funds in accordance with either the UK Financial Conduct Authority’s client money rules or as bank deposits subject to UK Prudential Regulation Authority regulations. (8/28/2014) CFTC press release.
Transmission congestion rights relief. The Divisions of Clearing and Risk, Market Oversight and Swap Dealer and Intermediary Oversight extended previously issued relief granted to Southwest Power Pool with respect to certain transactions on Southwest Power Pool’s Integrated Marketplace. (8/22/2014) CFTC Letter No. 14-109.
DCO registration relief. The Division of Clearing and Risk granted Clearing Corporation of India Ltd. relief from the requirements to register as a derivatives clearing organization for the clearing of Indian Rupee-denominated interest rate swaps and Indian Rupee-denominated forward-rate agreements. (8/19/2014) CFTC press release.
SEF reporting relief. The Division of Market Oversight provided swap execution facilities time-limited, conditional relief from certain data reporting and recordkeeping requirements in relation to confirmations required for uncleared swap transactions executed on or pursuant to the rules of a SEF under Commission Regulation 37.6(b). (8/18/2014) CFTC Letter No. 14-108.