The European Commission has released a statement announcing that the United States Commodity Futures Trading Commission (CFTC) and the European Commission have made significant progress towards a harmonised regulatory framework for CFTC-regulated swap execution
facilities (SEFs) and EU-regulated multilateral trading facilities (MTFs).
As a result of this dialogue the CFTC has issued two no-action letters providing relief to certain EU-regulated MTFs. The conditions in the no action letter are based on the MTF meeting certain reporting and clearing-related requirements and some other
conditions. The CFTC has also issued a conditional Short-Term No Action Letter to provide limited relief for all registered MTFs until 24 March 2014.
© Finextra Research 2014