RegAlert2016-09-14 | CFTC Staff Letter 16-72Added · Updated
CFTC Staff Letter 16-72: Conditional No-Action Relief for Yieldbroker Pty Limited
The CFTC Divisions of Market Oversight and Swap Dealer and Intermediary Oversight provide conditional no-action relief to Yieldbroker Pty Limited from the swap execution facility registration requirement under section 5h(a)(1) of the Commodity Exchange Act and Commission regulation 37.3(a)(1). Parties executing swap transactions on Yieldbroker are relieved from the trade execution mandate under CEA section 2(h)(8) and from obligations to report part 45 creation data and initial part 43 data once Yieldbroker begins reporting such data to a Commission-registered or provisionally-registered swap data repository. Swap dealers and major swap participants executing transactions on Yieldbroker are relieved from certain business conduct requirements under subpart H to part 23, the confirmation requirement under regulation 23.501, and swap trading relationship documentation requirements under regulation 23.504. This relief expires upon the effective date of any framework implementing the Commission’s authority under CEA section 5h(g) to exempt swap execution facilities subject to comparable comprehensive supervision.
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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
Division of Swap Dealer and
Intermediary Oversight
CFTC Letter No. 16-72
No-Action
September 14, 2016
Division of Market Oversight
Division of Swap Dealer and Intermediary Oversight Conditional no-action relief related to CFTC No-Action Letter No. 15-29 with respect to swaps trading on Yieldbroker Pty Limited The Commodity Futures Trading Commission’s (CFTC’s) Divisions of Market Oversight (DMO) and Swap Dealer and Intermediary Oversight (DSIO) (the Divisions) are jointly issuing this letter to provide conditional no-action relief related to CFTC No-Action Letter No. 15-29 (Letter 15-29)1 for:
(1) Yieldbroker PTY Limited (Yieldbroker) from the swap execution facility (SEF) registration requirement under section 5h(a)(1) of the Commodity Exchange Act (CEA)2 and Commission regulation 37.3(a)(1);3 (2) Parties executing swap transactions on Yieldbroker from:
(i) the trade execution mandate under CEA section 2(h)(8);4 and (ii) their obligations to report part 45 creation data and the initial part 43 data associated with such swap transactions once Yieldbroker begins reporting part 45 creation data and the initial part 43 data associated with swap transactions to a 1 See Letter 15-29 (May 15, 2015), available at http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/15-29.pdf. 2 7 U.S.C. § 7b-3(a)(1). 3 See 17 CFR 37.3(a)(1). 4 7 U.S.C. § 2(h)(8).
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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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CFTC published 6 documents in the last 30 days. We email you each new one the day it's published.