On April 11th, the CFTC announced it has issued an order granting a request made by ICE Clear Europe Limited ("ICEU"). The order sets forth terms and conditions under which ICEU and its clearing members that are dually registered as futures commission merchants and broker-dealers may (1) hold credit default swaps ("CDS") and security-based CDS in a cleared swaps customer account; and (2) portfolio margin such CDS and security-based CDS held in a cleared swaps customer account. The SEC has issued a complementary exemptive order. CFTC Press Release.