SEF Relief from Certain Reporting and Recordkeeping Requirements
On August 18th, the Commodity Futures Trading Commission’s (“CFTC”) Division of Market Oversight issued a no-action letter providing swap execution facilities time-limited, conditional relief from certain data reporting and recordkeeping requirements in relation to confirmations required for uncleared swap transactions executed on or pursuant to the rules of a SEF under Commission Regulation 37.6(b). The no-action relief expires on September 30, 2015.
DCO Registration Relief
On August 18th, the CFTC’s Division of Clearing and Risk provided Clearing Corporation of India Ltd. no-action relief from the requirements to register as a derivatives clearing organization for the clearing of Indian Rupee- denominated interest rate swaps and Indian Rupee-denominated forward-rate agreements.
FCM Acknowledgement Letters
On August 18th, the CFTC’s Divisions of Clearing and Risk and Swap Dealer and Intermediary Oversight issued a no-action letter providing that enforcement action will not be recommended against the Chicago Mercantile Exchange, Inc., or certain of its clearing members, regarding the execution and submission of future commission merchant acknowledgment letters required by Regulation 1.20.