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The regulator is providing no-action relief for SEFs and DCMs that have to fix swaps sunk by clerical and operational errors. But this time the CFTC is looking for a more permanent solution.
The CFTC has issued another in a series of no-action letters that allows swap execution facilities (SEFs) and designated contract markets (DCMs) to fix clerical and operational errors that caused swap transactions to be rejected for clearing and thus voided. In addition, the side-stepping of key regulatory requirements will also permit SEFs and DCMs to...
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