Release Number 8776-23

CFTC’s Division of Clearing and Risk Issues Extension of No-Action Letter for Taiwan Futures Exchange

September 13, 2023

— The Commodity Futures Trading Commission’s Division of Clearing and Risk today issued a no-action letter providing that DCR will not recommend the CFTC take enforcement action against Taiwan Futures Exchange (TAIFEX) for failing to register as a derivatives clearing organization (DCO) as required by Section 5b(a) of the Commodity Exchange Act (CEA). 

Today’s no-action letter extends CFTC Letter 22-12, which expires September 15. The extension will be until the earlier of March 15, 2024 or the date on which the CFTC exempts TAIFEX from registration as a DCO under Section 5b(h) of the CEA.

Like CFTC Letter 22-12, today’s no-action letter is limited to TAIFEX’s clearing of the proprietary trades of U.S. clearing members and their affiliates.