SEC No-Action Letter: Chicago Mercantile Exchange

SEC No-Action Letter: Chicago Mercantile Exchange

March 24, 2011

The SEC Division of Investment Management granted no-action relief under § 17(f) of the Investment Company Act to the Chicago Mercantile Exchange to allow registered investment companies or their custodians to maintain assets in the custody of CME or a CME clearing member that is a futures commission merchant (FCM) registered with the CFTC, for purposes of meeting margin requirements for certain interest rate swaps cleared by CME. The letter grants relief that is substantially similar to that given in a no-action letter to LCH.Clearnet Ltd. on March 16.

Cross References

Investment Company Act § 17(f)

Investment Company Act Rule 17f-6

SEC No-Action Letter LCH.Clearnet Limited (March 16, 2011)