On August 31, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) issued a no-action letter (No-Action Letter 20-24) providing time-limited relief from the trade execution requirement for certain swaps.
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SEF
London Weekly Fireside Chat
Katten hosts a weekly, 15-minute fireside chat podcast series on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. This week, Carolyn Jackson covers the Commodity Futures Trading Commission’s approval of the final cross-border swaps rule, including a discussion of the CFTC’s revised rules applicable to non-US swap dealers…
CFTC Approves Exempt SEF Amendment Order for Certain EU MTFs and OTFs
On July 23, the Commodity Futures Trading Commission held an open meeting at which it approved an Amendment Order that (1) exempted 16 additional multilateral trading facilities (MTFs) and organized trading facilities (OTFs) authorized within the European Union (EU) from the requirement to register as swap execution facilities (SEFs); and (2) clarified the application of the existing order to UK based MTFs and OTFs during the UK’s Brexit transition period.
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CFTC Approves Two Final Rules and Two Proposed Rules at June 25 Open Meeting
Posted in CFTC, Derivatives
On June 25, the Commodity Futures Trading Commission held an open meeting where it approved two final rules, advanced two proposed rules and withdrew a previously proposed rule and supplemental proposal.
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NFA Proposes Technical Amendments to Various Rules and Interpretive Notices
By Kevin M. Foley & Jack A. West on
Posted in CFTC, Derivatives
On May 19, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission proposed technical amendment to several of NFA’s Rules and Interpretive Notices. In addition to correcting numerous cross-references and eliminating obsolete provisions, the proposed technical amendments add a definition of Swap Execution Facility (SEF) to NFA Compliance Rule 1-1 and require…
CFTC Extends Certain Comment Periods in Response to COVID-19
By Kevin M. Foley & Jack A. West on
Posted in CFTC, Derivatives
On April 9, the Commodity Futures Trading Commission (CFTC) extended five currently open comment periods in light of COVID-19. The comment periods for the following rulemakings have been extended until May 22, 2020, unless otherwise noted:
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CFTC Issues Temporary Relief from Certain Regulatory Requirements
By Kevin M. Foley & Elizabeth Organ on
Posted in CFTC, Derivatives
On March 17, the staff of the Commodity Futures Trading Commission (CFTC) issued a series of no-action letters to provide certain CFTC-regulated entities and registrants with temporary regulatory relief from a targeted set of regulatory requirements.
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CFTC Approves Revisions to Swap Data Reporting, Dissemination and Public Reporting Requirements for Market Participants
Posted in CFTC, Derivatives
On February 20, the Commodity Futures Trading Commission (CFTC) unanimously approved two proposed rules to revise its regulations relating to swap data reporting, dissemination and public reporting requirements for market participants.
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CFTC to Hold an Open Commission Meeting on January 30
By Kevin M. Foley & Jack A. West on
Posted in CFTC, Derivatives
The Commodity Futures Trading Commission (CFTC) will hold an open meeting on January 30, from 9:00 a.m. to 12:30 p.m. ET, to discuss a proposed rule regarding position limits for derivatives. The meeting will resume at 1:30 p.m. to consider another proposed rule on amendments to codify current no-action relief regarding swap execution facility (SEF) and real-time reporting requirements.
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CFTC Issues No-Action Letter Supplementing Relief to SEFs and DCMs
By Gregory A. Uffner & Kevin M. Foley on
Posted in CFTC
On January 8, the Commodity Futures Trading Commission Division of Market Oversight issued a no-action letter (the Letter) supplementing the relief provided in CFTC Letter 17-27. CFTC Letter 17-27 generally permitted swap execution facilities (SEFs) and designated contract markets (DCMs) to correct clerical or operational errors discovered after a swap has been cleared.
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