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The Commodity Futures Trading Commission’s Division of Market Oversight issued No-Action Letter No. 13-68, which extends to November 29 the deadline set forth in CFTC No-Action Letters 13-55, 13-56 and 13-58 for swap execution facilities (SEFs) and participating counterparties that effect foreign exchange swaps. Summaries of those letters can be found in the Corporate and Financial Weekly Digest edition of October 4, 2013. SEFs and SEF participants that desire to rely on this extension must follow the requirements of those letters in order to be eligible for the extension of time granted in Letter 13-68.
CFTC Letter No. 13-68 is available here.
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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