CFTC extends time-limited “No-Action Relief” to Eurex Clearing

The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (Division) today extended the no-action relief granted in CFTC Letter 14-156 to Eurex Clearing AG (Eurex Clearing) and its clearing members that are U.S. persons (each, a U.S. Clearing Member).

In the time-limited no-action letter issued today, the Division states that it will not recommend that the CFTC take enforcement action against Eurex Clearing, an applicant for registration as a derivatives clearing organization (DCO), for failure to register as a DCO pursuant to the requirements of Section 5b(a) of the Commodity Exchange Act (CEA); or a U.S. Clearing Member, for failure to clear certain interest rate swaps (IRS) that are required to be cleared under Section 2(h)(1)(A) of the CEA, through a registered or exempt DCO.

This extension will expire at the earlier of the date on which Eurex Clearing becomes registered as a DCO with respect to its IRS clearing business or January 31, 2016. The no-action relief is subject to several conditions outlined in the letter.

Click here to to view the official release.

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