On September 26, 2012, the CFTC's Division of Clearing and Risk issued a no action letter granting an extension of time for compliance from certain pre trade screening requirements. Section 1.73 of the CFTC's clearing member risk management rules becomes effective on October 1, 2012. Due to concerns that certain FCMs ("Futures Commission Merchants") will have difficulty producing fully compliant clearing systems by the October 1, 2012 effective date, the Division granted an extension for compliance with the automated screening requirement of Section 1.73(a)(2)(i) for those transactions executed on DCM ("Designated Contract Markets") that do not have systems allowing them to set pre-execution limits, until the earlier of the date on which the DCM implements such a system or June 1, 2013, unless the CFTC otherwise notifies the Futures Industry Association ("FIA")...

Please see full alert below for more information.