CFTC Staff Letter 13-59: Time-Limited No-Action Relief for Yieldbroker Pty Limited

U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5260
Facsimile: (202) 418-5527
Division of
Market Oversight
CFTC Letter No. 13-59
No-Action
September 30, 2013
Division of Market Oversight
Richard Swift
Chief Executive Officer
Yieldbroker Pty Limited
Level 12, 130 Pitt Street
Sydney, NSW 2000, Australia
Re: Time-Limited No-Action Relief with Regard to Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1) Dear Mr. Swift:
This is in response to your letter dated September 29, 2013 (“Letter”) to the Division of Market Oversight (“DMO”) of the Commodity Futures Trading Commission (“Commission”). In the Letter, you request, on behalf of Yieldbroker Pty Limited (“Yieldbroker”), that DMO will not recommend that the Commission take enforcement action against Yieldbroker for failure to register as a SEF, or against any market participants for use of, or other relationships with, Yieldbroker, for a 30-day period commencing on October 2, 2013, which is the compliance date for the Commission’s swap execution facility (“SEF”) final rules, and expiring on November 1, 2013. 1 Specifically, Yieldbroker requests that DMO confirm it will not recommend to the Commission that it commence an enforcement action against Yieldbroker for violation of section 5h(a)(1) of the Commodity Exchange Act (the “Act”) 2 or Commission Regulation 37.3(a)(1), 3 or against any other market participant that uses or has other relationships with Yieldbroker, based on Yieldbroker’s failure to register as a SEF.