The U.S. Commodity Futures Trading Commissionâs (Commission) Division of Market Oversight (Division) today issued a no-action letter providing time-limited relief relating to certain occasional, off-facility, cleared credit default swaps (CDSs) that are entered into pursuant to a DCOâs rules related to its price submission process for determining end-of-day settlement prices for cleared CDSs (for the purposes of this relief, this settlement price process is referred to as the âCDS Settlement Price Process,â and the swaps associated with this process are referred to as âClearing-Related Swapsâ).
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