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ARTICLE · 21 FEBRUARY 2014

Corporate And Financial Weekly Digest - Volume IX, Issue 7

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The Commodity Futures Trading Commission’s Division of Market Oversight has issued CFTC Letter No. 14-15, which provides temporary no-action relief for (i) multilateral trading facilities (MTFs) overseen by regulators in the European Union from the requirement to register with the CFTC as a swap execution facility and (ii) parties executing swaps on MTFs from the trade execution requirement set forth in Section 2(h)(8) of the Commodity Exchange Act.

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Edited by Robert Weiss and Gregory Xethalis

CFTC

CFTC Exempts MTFs from US Registration Requirements

The Commodity Futures Trading Commission's Division of Market Oversight (DMO) has issued CFTC Letter No. 14-15, which provides temporary no-action relief for (i) multilateral trading facilities (MTFs) overseen by regulators in the European Union from the requirement to register with the CFTC as a swap execution facility (SEF) and (ii) parties executing swaps on MTFs from the trade execution requirement set forth in Section 2(h)(8) of the Commodity Exchange Act (CEA). This temporary relief is available until the earlier of the date when DMO issues a letter granting an MTF's request pursuant to CFTC Letter No. 14-16 (as described below) or March 24, 2014. CFTC Letter No. 14-15 is available here.

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