June 7, 2013
CFTC’s Division of Clearing and Risk Issues an Advisory Pertaining to the Effective Date of the Clearing Exemption for Swaps Between Certain Affiliated Entities
Washington, DC — The Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (CFTC) today issued an Advisory notifying market participants that the effective date of the final rule adopting the “Clearing Exemption for Swaps Between Certain Affiliated Entities” has been automatically extended by operation of law, to June 18, 2013.
The Advisory also notifies market participants that the new effective date of June 18, 2013 also applies to the “implementation” provision of the final rule. This provision states that the clearing requirement under Section 2(h)(1)(A) of the Commodity Exchange Act and part 50 of the Commission’s regulations shall not apply to a swap executed between affiliated counterparties that have the status of eligible affiliated counterparties as defined in § 50.52(a), and elect not to clear such swap until the effective date of the final rule.
Last Updated: June 7, 2013