Staff of the Commodity Futures Trading Commission extended through November 15, 2020, previously granted no-action relief that permits swap execution facilities to facilitate the execution of block trades for swaps that are intended to be cleared on a SEF’s trading system or platform. Without the relief, such block trades must be executed off such facilities (click here to access CFTC Rule 43.2). According to the CFTC, a representative of SEFs had argued that technology does not currently exist that allows a SEF to facilitate a pre-execution credit check for block trades executed off-exchange, as required by CFTC rule (click here to access CFTC Rule 37.702(b)).