Page 15 - 期货和衍生品行业监管动态（2022年6月）
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期货和衍生品行业监管动态
必须根据 CFTC 监管规定第 40.6(a)节进行自我认证，或根据 CFTC 监管规定第
40.5 节提交至 CFTC 进行批准。
为免生疑问，SEF 遵守 CFTC 监管规定第 43.2 节中“大宗交易”的修订定
义并不影响该 SEF 以其他方式使用 CFTC 工作人员信函第 22-03 号中提供的报告
豁免。
1. “Block Trade” Definition Compliance Begins May 25, Ending Staff CFTC
Provided No-Action Relief (2022/5/23)
The Commodity Futures Trading Commission’s Division of Market Oversight
(DMO) today reminds swap execution facilities (SEFs) that the block trade no-action
relief provided in CFTC Staff Letter No. 20-35 will expire on May 25. Beginning that
day SEFs are required to comply with the amended definition of “block trade” under
CFTC Regulation 43.2.
Since 2014, DMO has provided no-action relief for SEFs that have rules and/or
procedures to facilitate the execution of block trades for swaps that are
intended-to-be-cleared (ITBC) through the SEF’s non-order book trading systems or
platforms, and thus were not compliant with the then-Part 43 final rules definition of
“block trade” which required block trades to occur away from a SEF’s trading
systems or platforms (Block Trade Relief).
On September 17, 2020, the Commission approved Final Rule: Part 43 Real-time
Public Reporting Rules that amended certain real-time public swap reporting and
dissemination requirements. In particular, the Part 43 Real-time Public Reporting
Rules amended the definition of “block trade” to allow block trades for ITBC swap
blocks to be executed on a SEF’s non-order book trading systems or platforms
codifying the Block Trade Relief. In addition, the amended definition of “block trade”
would also allow non-ITBC swap block trades to be executed on a SEF’s non-order
book trading systems or platforms. The Part 43 Real-time Public Reporting Rules’
amendments to the “block trade” definition were effective on January 25, 2021, with a
compliance date of May 25, 2022.
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