Extension of Time-Limited No-Action Relief from U.S. Commodity Futures Trading Commission

JSCC received the Extension of Time-Limited No-Action Relief granted on December 19, 2013 from U.S. Commodity Futures Trading Commission (CFTC), in relation to the No-Action Letter dated December 17, 2012. No-Action Relief provides the exemption from Commodity Exchange Act (CEA) and CFTC regulation, subject to a certain condition, with regard to the obligation for JSCC to register as a derivatives clearing organization (DCO) and a JSCC qualified clearing participant member, or a parent or affiliate of a JSCC qualified clearing participant to clear a swap, in terms of JSCC’s CDS and IRS clearing business.


The no-action relief shall expire on the earlier of the date upon which JSCC registers as a DCO with respect to its IRS Clearing Business or December 31, 2014 subject to a certain condition pursuant in CFTC Letter 13-73.


For more details, please refer to press release as follows
http://www.cftc.gov/PressRoom/PressReleases/pr6799-13
No-Action Relief
http://www.cftc.gov/ucm/groups/public/@newsroom/documents/letter/13-73.pdf



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Japan Securities Clearing Corporation
Strategic Planning Division
Tel: 03-3665-1045
Email: otc@jscc.co.jp