<p><span>I support the revised and extended staff no-action relief regarding swaps intended to be cleared (“No-Action Relief”). This expanded No-Action Relief appropriately recognizes the developments in the cleared swaps market in the decade following the issuance of the existing no-action positions in 2013, including the Commission’s issuance of exemptions from registration to certain non-US clearing organizations and swap execution facilities as provided for in the Commodity Exchange Act (“CEA”).</span><span> This approach facilitates the efficient use of cleared swaps and furthers our mandate to recognize comparable, comprehensive supervision and regulation of derivatives market infrastructure providers in other countries.</span></p>