CFTC No-Action Letters

From December 14 through December 31, 2012, the CFTC released the following no-action letters:

CFTC Final Rule on Clearing of Credit Default Swaps and Interest Rate Swaps

On November 28, the CFTC issued final rules requiring certain credit default swaps and interest rate swaps to be cleared by registered derivatives clearing organizations (DCOs).  Market participants will be required to submit a swap that is identified in the rule for clearing by a DCO as soon as technologically practicable and no later than the end of the day of execution.  The final rules will be effective 60 days after publication in the Federal Register. CFTC Release.  CFTC Final Rule.