CFTC Staff Letters

Taiwan Futures Exchanges Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contract Based on the Taiwan Stock Exchange Non-Finance Non-Electronic Sub-Index.

Eurex Deutschlands Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contract Based on the RDXxt USD-RDX Extended Index.

The Division of Clearing and Intermediary Oversight granted exemptive relief from the books and records location requirement of Regulations 4.7 and 4.23. This exemption was conditioned upon: (1) the contractual obligation of the alternative recordkeepers to retain books and records of the CPO for the period required in Commission regulations and to make them available as required in Commission regulations; (2) availability within 48 hours (72 hours for offshore locations) of original books and records at the CPO’s main business office); (3) the CPO remaining responsible for ensuring compliance with Regulations 1.31, 4.7 and 4.23, and for availability of books and records to CFTC and NFA; (4) disclosure of the location of required books and records on the CPO’s pool Disclosure Documents; and (5) notification to the Division if the location of required books and records changes.

Eurex Deutschlands Request for No-Action Relief in Connection with the Offer and Sale in the United States of Eight Futures Contracts Based on Security Indices Derived from the Dow Jones STOXX 600 Index.

The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of three commodity pools, whose shares had been publicly offered and listed for trading on a national securities exchange. Prior to issuance of the Division’s letter, the pools had been operated in compliance with Part 4. As is discussed in the letter, relief granted by the Division was in the nature of substituted compliance with the regulations from which relief was sought. Exemptive relief was also provided with respect to future commodity pools with the same structural and operational features as the CPO’s existing pools.

The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of a commodity pool, whose shares the CPO intended to publicly offer and to list for trading on a national securities exchange. As is discussed in the letter, this relief was in the nature of substituted compliance with those regulations.