Expiration of Certain Regulatory Relief Concerning COVID-19 Pandemic

This Special Executive Report is being issued to remind the marketplace that on March 31, 2021, the temporary no-action relief provided by CFTC Staff Letter 21-04 will expire. This no-action relieved participants, subject to certain conditions, of the obligation under CFTC Regulation 1.35 to make and keep records of oral communications. As such, the corresponding temporary relief provided by the Exchanges will also expire on March 31, 2021. After March 31,2021, pursuant to Exchange Rule 536, each member and member firm and employees of the foregoing must maintain records of oral communications required to be recorded pursuant to CFTC Regulation 1.35.

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