The CFTC Division of Clearing and Risk (the "Division") granted no-action relief to CME Clearing Europe Limited ("CMECE"), which is in the process of being wound down by its parent CME, from the CEA Section 7 requirement that DCOs must submit requests to vacate DCO registration at least 90 days in advance of the requested effective date. The relief is being granted in order to avoid the preparation and review of regulatory filings related to the wind-down, which the Division notes would impose "administrative burdens on both CMECE and the Commission."
Pending CFTC approval of CMECE's request to vacate, the Division will not recommend any enforcement action for failure to comply with DCO registration requirements under CEA Section 5b or Parts 39 and 40 of the CFTC's rules.
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