December 11, 2012
Washington, DC – The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) today announced the issuance of a time-limited no-action letter providing temporary no-action relief consistent with the intent to preserve the regulatory status quo with respect to transactions and persons described in certain paragraphs of the Commission’s expiring Second Amendment to July 14, 2011 Order (due to expire on December 31, 2012) and the conditions thereto, by permitting transactions and relevant persons to continue to operate in compliance with various CEA exemptive and excluding provisions in place prior to July 16, 2011, subject to, among other conditions, various anti-fraud and anti-manipulation prohibitions.
The no-action letter’s relief, which applies to, among others, formerly exempt trading platforms that intend to file DCM or SEF applications, will expire on the earlier of June 30, 2013, or the effective date of the SEF final rules. In addition, the no-action letter would allow certain relief for CEA Sections 2(d), 2(e), 2(g), 2(h), or 5d-compliant platforms that have a DCM or SEF application pending before the Commission.
Last Updated: December 11, 2012