Release Number 8385-21

CFTC Staff Renews Temporary No-Action Relief for Entities Submitting Swaps for Clearing with DCOs Acting Under Exemptive Orders or No-Action Relief

April 28, 2021

— The Commodity Futures Trading Commission’s Division of Data today announced the renewal of temporary no-action relief to entities submitting swaps for clearing by derivatives clearing organizations (DCOs) operating under CFTC exemptive orders or CFTC staff no-action relief (Relief DCOs). [See CFTC Press Release No. 7699-18)]

Today’s action renews relief for entities submitting such swaps for clearing (Relief DCO Counterparties) from obligations to terminate the original “alpha” swap and to report any swaps between the Relief DCO Counterparties and the Relief DCO. Relief DCOs are required to report such resulting swap data by the terms of their exemption or as condition to no-action relief. This action also provides relief for counterparties to report certain primary economic terms data fields for swaps intended to be cleared by a Relief DCO as a cleared swap.