CFTC Extends No-Action Relief to Yieldbroker Pty Limited (CFTC Letter 15-04)

The CFTC Division of Market Oversight ("DMO") issued a no-action letter that extends the previous conditional time-limited relief provided to trading platform Yieldbroker Pty Limited ("Yieldbroker").

Therefore, DMO will not recommend enforcement action by the CFTC against Yieldbroker for failure to register as a swap execution facility under CEA Section 5h(a)(1) ("Swap Execution Facilities") or CFTC Rule 37.3(a)(1) ("Requirements and Procedures for Registration"), or against any market participant who uses or has other relationships with Yieldbroker for the period ending on May 15, 2015.

The no-action relief remains contingent on Yieldbroker's satisfaction of the six conditions specified in the previous no-action letter, Letter 13-76, throughout the time-limited relief period. Additionally, Yieldbroker may offer trading in New Zealand dollar-denominated interest rate swaps on its platform during the relief period.

See: CFTC Letter 15-04. Related news: CFTC Extends and Expands No-Action Relief to Yieldbroker Pty Limited for Failing to Register as an SEF (CFTC Letter 14-139) (November 13, 2014); CFTC Issues No-Action Relief to Yieldbroker Pty Limited (CFTC Letter 13-76) (December 23, 2013); CFTC Extends Conditional No-Action Relief to Yieldbroker Pty Limited (CFTC Letter 14-70) (May 14, 2014); The CFTC Extends Conditional Time-Limited No-Action Relief to Yieldbroker Pty Limited (CFTC Letter 14-105) (August 11, 2014); CFTC Announces Issuance of Swap Relief for Australian Entities (CFTC Letter 14-117) (with Lofchie Video Selection) (September 15, 2014); CFTC Extends Time-Limited No-Action Relief to Yieldbroker Pty Limited (CFTC Letter 13-67) (October 31, 2013); CFTC's DMO Provides Time-Limited No-Action Relief to Australian-Based Trading Platform Yieldbroker Pty Limited (CFTC Letter 13-59) (September 30, 2013).