On April 23, the CFTC issued Guidanceto SEFs regarding the calculation of projected operating costs, in light of certain compliance requirements (see Press Release; Statement from Commissioner Wetjen).

On April 22, the CFTC issued two no-action letters:

• No-Action Relief for SEFs/DCMs in connection with operational or clerical submission errors (through June 15, 2016).
• No-Action Relief for certain SEF confirmation and recordkeeping requirements (through March 31, 2016).