CFTC issues no-action letters for EU MTFs: CFTC has provided new conditional no-action relief for swaps trading on EU multilateral trading facilities (MTFs). This new relief from registration, conduct of business and exchange-trading obligations builds on that offered previously and introduces the following conditions:

  • an MTF must report all swap transactions to a CFTC-registered or provisionally-registered data repository; 
  • an MTF must certify that participants have consented to the MTF’s jurisdiction; and
  • qualifying MTFs must submit monthly reports to CFTC summarising the activity by US persons.

It also requires clarifications on the reporting obligations applying to participants in those MTFs. (Source: Conditional No-Action Relief with Respect to Swaps Trading on EU MTFs