Designated Contract Markets

CFTC Extends No-Action Relief to SEFs and DCMs From Certain CFTC Regulations for Correction of Errors

Posted on

 

On May 30, 2017, the U.S. Commodity Futures Trading Commission‘s (“CFTC“) Division of Market Oversight and Division of Clearing and Risk issued a no-action letter extending the relief provided in CFTC Letter No. 16-58, which expires on June 15, 2017. That no-action letter provides relief from certain CFTC regulations to permit swap execution facilities (“SEFs“) and designated contract markets (“DCMs“) to correct clerical or operational errors that caused a swap to be rejected for clearing and thus become void. The no-action letter also permits SEFs and DCMs to correct clerical or operational errors discovered after a swap has been cleared. The letter extends the relief until the effective date of any revised CFTC regulations regarding methods of execution requirements and pre-arranged trading. Release. Full Letter.

CFTC Final Rules on Designated Contract Markets

Posted on

On May 10, pursuant to Sections 735 and 723 of the Dodd-Frank Act, the CFTC adopted new and revised rules, guidance and acceptable practices governing the designation and operation of designated contract markets. The final rules, guidance and acceptable practices will be effective 60 days after publication in the Federal Register.  CFTC Fact Sheet.  CFTC Q&A.

CFTC Proposed Rule on Designated Contract Markets and Swap Execution Facilities

Posted on

On December 5, the CFTC proposed regulations in accordance with Section 723(a)(8) of the Dodd-Frank Act that would establish a process for Designated Contract Markets and Swap Execution Facilities to make a swap “available to trade”. Comments must be submitted within 60 days of publication in the Federal Register. CFTC Fact Sheet. CFTC Q&A. Proposed Rule.