Revised petition from the CME regarding credit default swaps

CME is requesting that the Commission issue an order under Section 4d of the Commodity Exchange Act that would permit CME and futures commission merchants clearing through CME to commingle customer funds used to margin, secure, or guarantee CDS cleared by CME with other funds held in the segregated account.

The Commission posted CME’s original petition for a 30-day comment period on August 14, 2009, and received four comment letters. On December 21, 2009, CME submitted a revised petition that includes changes to its CDS clearing plans.

Comments regarding the revised exemption request should be submitted on or before February 5, 2010.

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