The CFTC Divisions of Clearing and Risk and Market Oversight issued No-Action Letter 13-62, providing time-limited and specific relief for futures commission merchants ("FCMs") from the requirement to comply with CFTC Rule 1.73(a)(2) ("Clearing FCM Risk Management"), and for temporarily registered swap execution facilities ("SEFs") from the requirement to comply with CFTC Rule 37.702(b) ("General Financial Integrity"). In short, the letter provides that FCMs are not required to guarantee clearance of trades sent to an SEF where the technology and rules are not in place to do so. In order for

The CFTC approved the application of Nodal Exchange, LLC ("Nodal"), previously operating as an exempt commercial market ("ECM"), as a designated contract market ("DCM"). In conjunction with the approval of Nodal's designation, the CFTC approved the transfer of contracts and open interest in contracts currently listed on the ECM to the DCM. Separately, the CFTC Division of Market Oversight also provided no-action relief to Nodal to allow for the simultaneous listing and trading of contracts, on Nodal's first date of operation as a DCM, as Nodal transitions from its operating status as an ECM to

The CFTC issued a final order to provide for the continuation, shutdown and resumption of certain operations of the CFTC, and to alert all persons regulated by or engaged in proceedings at the CFTC of these provisions in the event of a lapse in appropriations. The following issues are addressed in the attached release: Tolling and Extension of Certain Procedural Time Limits. The CFTC shall not process any filings or review any matters for Commission approval or action to the extent that the matters are not directly related to the protection of property for the duration of a shutdown

The CFTC Division of Market Oversight issued two time-limited no-action letters (Letters 13-55 and 13-56) to provide relief for temporarily registered swap execution facilities ("SEFs") and Reporting Counterparties from compliance with certain swap data reporting requirements under CFTC Rules Part 43 ("Real-Time Public Data Reporting") and Part 45 ("Swap Data Recordkeeping and Reporting Requirements"). CFTC No-Action Letter 13-55 postpones the date by which a SEF must be in compliance with certain CFTC Rules Part 43 and 45 swap data reporting obligations under CFTC Rules Part 43 and 45. Under

The SEC Division of Trading and Markets issued a no-action letter to LCH.Clearnet Group Limited, the holding company of LCH.Clearnet SA ("LCH.C SA") in response to its request for relief from the registration requirements required in Exchange Act Section 17A(b)(1) ("National System for Clearance and Settlement of Securities Transactions") in connection to component transactions that are spun out of certain broad-based index credit default swaps ("CDS"), and LCH's Clearing Members by clearing security-based swaps through an unregistered clearing agency. The letter issued no-action relief to LCH