CFTC Staff Letter 14-86 (No-Action): Extension of No-Action Relief for LCH.Clearnet Ltd Clearing Nodal Exchange Contracts

The Divisions of Clearing and Risk and Market Oversight extend the expiration date of no-action relief for LCH.Clearnet Ltd and Nodal Exchange LLC to the earlier of December 31, 2014, or the date the Commission approves or denies LCH's application for an amended DCO registration order. This relief permits LCH and its clearing members to clear futures and options on futures listed on Nodal without enforcement action, despite LCH lacking current authorization for these specific contracts. The relief is limited to Nodal Contracts currently accepted for clearing by LCH and applies to current and future clearing members of LCH. The Divisions state they do not anticipate providing any further extensions beyond this date.

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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5000
Facsimile: (202) 418-5521 a

CFTC Letter No. 14-86
No-Action
June 25, 2014
Division of Clearing and Risk
Division of Market Oversight
Mr. Jay Iyer
Chief Compliance Officer
LCH.Clearnet Limited
33 Aldgate High Street
London EC3N 1EA
Ms. Anita Herrera
Chief Regulatory Officer
Nodal Exchange LLC
8065 Leesburg Pike, 3rd Floor
Vienna, Virginia 22182
Re: Extension of Time-Limited No-Action Relief with Regard to Clearing Futures and Options on Futures Executed on Nodal Exchange Dear Mr. Iyer and Ms. Herrera:
The purpose of this letter is to inform you that the Division of Clearing and Risk and the Division of Market Oversight (“Divisions”) of the Commodity Futures Trading Commission (“Commission”) are extending the expiration date of the no-action relief granted to LCH.Clearnet Ltd (“LCH”) and Nodal Exchange LLC (“Nodal”) on September 27, 2013 (“NoAction Relief”). 1

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This document amends: CFTC Staff Letter 13-53: No-Action Relief for LCH.Clearnet Ltd Clearing Nodal Exchange Futures and Options

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