On June 12th, the CFTC published the Division of Clearing and Risk's April 29, 2013 interpretive letter on the application of the term "executing firm." The interpretation clarifies that the term "executing firm" in Regulation 1.73(a)(2)(iv) refers to introducing brokers or futures commission merchants that execute orders for customers. The interpretation also clarifies that an FCM that provides to an executing firm sponsored access to a market is not obligated under Regulation 1.73(a)(2)(iv), by virtue of the provision of such access, to conduct order screening of the executing firm's customers.