No-action grants relief from transaction level requirements for non-US SDs
The US Commodity
Futures Trading Commission (CFTC), on Thursday, extended
no-action relief from certain transaction level requirements
for non-US swap dealers entering into swaps with non-US
The relief means that
non-US dealers using staff or agents in the US to trade swaps
with non-US entities are not subject to transaction
requirements, assuming the non-US entity is not a CFTC
registered swap dealer.
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