CFTC grants relief to swap dealers from margin rules with respect to uncleared swaps with the European Stability Mechanism. The CFTC’s Division of Swap Dealer and Intermediary Oversight granted no-action relief to swap dealers from margin requirements under the CFTC’s Final Margin Rule when entering into uncleared swaps with the European Stability Mechanism. (7/24/2017) CFTC no-action letter.
DCO registration granted to LedgerX LLC. The CFTC announced that it has issued an order granting LedgerX, LLC registration as a DCO under the CEA. Under the order, LedgerX will be authorized to provide clearing services for fully-collateralized digital currency swaps. LedgerX, which was also granted an order of registration as a Swap Execution Facility on July 6, 2017, initially plans to clear bitcoin options. (7/24/2017)