CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Relief from Certain Swap Trading Relationship Documentation Standards with Foreign Exchange Counterparties
06/27/2013 07:16 PM EDT
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (“DSIO”) today announced the issuance of a no-action letter relating to requirements imposed on Swap Dealers (“SDs”) and Major Swap Participants (“MSPs”) pursuant to Commission regulation § 23.504 in connection with (i) foreign exchange transactions that are swaps , and (ii) physically-settled foreign exchange forwards and swap agreements that have been exempted from the definition of swap by the Secretary of the U.S. Department of the Treasury.