Release Number 8536-22

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

May 25, 2022

The Commodity Futures Trading Commission’s Division of Data today announced it will renew 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. 8385-21)]

The staff letter renews relief for entities submitting such swaps for clearing (Relief DCO Counterparties) from obligations to report the termination of 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 staff letter 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.