The FIA Law and Compliance Division today published a standard notice to help firms comply with exchange rules that require clearing members to notify their omnibus customers of restrictions on access for “sanctioned parties” or similar entities under exchange rules. In particular, CME, CBOT, NYMEX and COMEX have notified the CFTC that they will amend Rule 960 to require that clearing members notify their omnibus customers of restrictions against dealing with sanctioned parties and that the omnibus customers do the same with respect to their own omnibus customers. The revisions to Rule 960 are set to be made effective by the exchanges on Feb. 29, 2016.
