Page 205 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

SEFs 可以根据 CFTC 监管规定第 40.6(d)节的规定，对促进使用非订单簿交

易系统或平台执行 ITBC 互换大宗交易的规则和/或程序进行非实质性修改，例如

删除对 CFTC 工作人员信函第 20-35 号的引用。新的规则和/或程序，如促进使

用 SEF 的非订单簿交易系统或平台执行非 ITBC 互换大宗交易的规则和/或程序，

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。

“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

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