CFTC to exempt energy swaps from new dealer rules until 2013-CME

NEW YORK, Oct 12 (Reuters) - U.S. regulators are expected on Friday to exempt some swaps traded on CME Group Inc's clearing platform from counting toward new dealer limits through the end of the year, the exchange said, bringing last-minute relief to anxious energy traders.

"We also understand the CFTC Division of Swap Dealer and Intermediary Oversight will today be issuing no-action relief which provides that the swap components of EFRP trades that are entered into prior to Dec. 31, 2012, will not count toward any market participant's swap dealer de minimis threshold," the CME said in a notice to customers.

The exchange, which is scrambling to compete with IntercontinentalExchange Inc in giving energy firms the ability to trade futures rather than swaps, also said it was withdrawing one proposal to allow unlimited off-exchange deals in some futures contracts termed 9(B)(iii).

(Reporting By Jonathan Leff; Editing by Gerald E. McCormick)

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Keywords: CME SWAPS/