RegAlert2008-08-20 | CFTC Staff Letter 08-14Added · Updated
CFTC Staff Letter 08-14: No-Action Relief for Nord Pool ASA's Electronic Trading System and API
The Division of Market Oversight grants no-action relief to Nord Pool ASA, permitting its electronic trading and order matching system (ETS) and application program interface (API) to be made available to United States entities without requiring designation as a contract market or registration as a derivatives transaction execution facility. This relief applies to specific U.S. participants, including proprietary traders qualifying as Professional Clients or eligible contract participants, futures commission merchants, commodity pool operators, and commodity trading advisors, subject to conditions such as the guarantee of trades by a futures commission merchant or Rule 30.10 firm. The Division will not recommend enforcement action against Nord Pool ASA or its members provided these entities adhere to the specified eligibility criteria and operational requirements outlined in the request.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5260
Facsimile: (202) 418-5527 www.cftc.gov
Division of
Market Oversight
CFTC Letter No. 08-14
August 20, 2008
No-Action
Division of Market Oversight
Clifford Chance US LLP
31 West 52nd Street
New York, NY 10019 6131
Re: Nord Pool ASA, Request for No-Action Relief from Contract Market Designation and Derivatives Transaction Execution Facility Registration Requirements Dear Mr. Yeres:
This is in response to your letter dated May 21, 2008 to the Division of Market Oversight (Division) of the Commodity Futures Trading Commission (CFTC or Commission).1 By this correspondence, you request, on behalf of Nord Pool ASA, (NP or the Exchange) that the Division confirm that it will not recommend that the Commission take enforcement action against NP or its members2 if NP does not seek designation as a contract market (DCM) pursuant to Section 5 of the Commodity Exchange Act (CEA or Act) or registration as a derivative transaction execution facility (DTEF) pursuant to Section 5a of the Act, or Commission rules thereunder, in connection with the installation and use by NP members in the United States3 of the Exchange’s electronic trading and order matching system and application program interface (API) (referred to hereafter as its trading system or ETS). (no-action request).
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Source: Commodity Futures Trading Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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