December 23, 2013

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief Regarding Swaps Entered Into by Persons Registered as Floor Traders

Washington, DC — The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter that provides relief from certain conditions of the swap dealer exclusion for registered floor traders. Specifically, the no-action letter provides relief from the aggregation requirement of Commission Regulation 1.3(ggg)(4)(i) and certain conditions under Regulation 1.3(ggg)(6)(iv) that, if met, permit a floor trader, and/or the affiliate of a floor trader, to exclude swaps from the aggregate gross notional amount of swap transactions for purposes of the determining whether such person meets the swap dealer definition.

Last Updated: December 23, 2013