The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter stating it will not recommend the Commission commence an enforcement action against a swap execution facility that does not provide a central limit order book as required under CFTC Regulation 37.3(a)(2) for swap transactions executed on the SEF that are not subject to the trade execution requirement in Commodity Exchange Act section 2(h)(8).
Commodity Futures Trading Commission 2025-07-30
Commodity Futures Trading Commission issues no-action relief for SEFs that do not offer a central limit order book for non-mandatory swaps
The Commodity Futures Trading Commission's Division of Market Oversight issued a no-action letter, indicating it will not pursue enforcement against a swap execution facility lacking a central limit order book as per CFTC Regulation 37.3(a)(2). This applies to swap transactions on the facility not subject to the trade execution requirement in Commodity Exchange Act section 2(h)(8).