CFTC Staff Letter 13-76: Conditional Time-Limited No-Action Relief for Yieldbroker Pty Ltd

The Division of Market Oversight grants conditional, time-limited no-action relief to Yieldbroker Pty Limited regarding Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1). This relief, which commences upon publication and expires on the earlier of May 16, 2014, or SEF registration, exempts Yieldbroker and its market participants from enforcement action for failure to register as a Swap Execution Facility. The relief is contingent upon Yieldbroker maintaining its Australian Market License, offering only Australian dollar-denominated interest rate swaps, maintaining a compliant order book, and providing impartial access to its platform.

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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
Division of
Market Oversight
CFTC Letter No. 13-76
No-Action
December 20, 2013
Division of Market Oversight
Richard Swift
Chief Executive Officer
Yieldbroker Pty Limited
Level 12, 130 Pitt Street
Sydney, NSW 2000, Australia
Re: Conditional 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:
On September 30, 2013, the Division of Market Oversight (“DMO” or “Division”) of the Commodity Futures Trading Commission (“Commission”) issued No-Action Letter 13-59 (“September 2013 Letter”) 1 granting temporary relief to Yieldbroker Pty Limited (“Yieldbroker”). Pursuant to the September 2013 Letter, DMO would 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 expiring on November 1, 2013. 2 Specifically, DMO confirmed in the September 2013 Letter that it would 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”) 3 or Commission Regulation 37.3(a)(1), 4 or against any other market participant that uses or has other relationships with Yieldbroker, based on Yieldbroker’s failure to register as a SEF. On October 30, 2013, DMO issued No-Action Letter 13-67 (“October 2013 Letter”) extending the temporary no-action relief granted to Yieldbroker through December 1, 2013. 5 On

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Lineage: Amended

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 5 times · last 2016-05-12

2016-05-12CFTCCFTC Staff Letter 16-52: Extension of No-Action Relief for Yieldbroker Pty Limitedamends
2015-10-15CFTCCFTC Staff Letter 15-56: Extension of Conditional No-Action Relief for Yieldbroker Pty Limitedamends
2015-02-12CFTCCFTC Staff Letter 15-04: Extension of conditional time-limited no-action relief for Yieldbroker Pty Limitedamends
2014-08-11CFTCCFTC Staff Letter 14-105: Extension of No-Action Relief for Yieldbroker Pty Limited Until November 15, 2014amends
2014-05-14CFTCCFTC Staff Letter 14-70: Extension of No-Action Relief for Yieldbroker Pty Limitedamends

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

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