CFTC Announces Enhancements To Protect Customer Funds - Commission Grants Exemption To Facilitate Customer Accounts For Clearinghouses At Federal Reserve Banks - CFTC Staff Also Announces No-Action Relief And Rule Interpretation Regarding The Use Of Money Market Funds By FCMs And DCOs

The U.S. Commodity Futures Trading Commission (CFTC) today announced three separate measures that are designed to enhance the protection of customer funds. The CFTC approved an order to exempt Federal Reserve Banks that maintain customer accounts for derivatives clearing organizations (DCOs) from liability under the Commodity Exchange Act (CEA). In addition, the CFTC’s Divisions of Clearing and Risk (DCR) and Swap Dealer and Intermediary Oversight (DSIO) issued separate interpretative and no-action letters regarding the use of money market funds (MMFs) by DCOs and futures commission merchants (FCMs).