Release Number 8587-22

CFTC Staff Issues No-Action Letter to Taiwan Futures Exchange

September 19, 2022

— The Commodity Futures Trading Commission’s Division of Clearing and Risk today announced it has issued a time-limited no-action letter to Taiwan Futures Exchange (TAIFEX). 

The letter states DCR will not recommend the CFTC take enforcement action against TAIFEX if it clears swaps for the proprietary trades of TAIFEX clearing members that are U.S. persons or affiliates of U.S. persons without registering as a derivatives clearing organization (DCO) as required by the Commodity Exchange Act (CEA).

The letter is effective until the earlier of September 15, 2023, or the date on which the CFTC exempts TAIFEX from registration as a DCO under Section 5b(h) of the CEA.