Proposal To Exempt the Trading and Clearing of Certain Credit Default Products Traded on the Chicago Board Options Exchange and Cleared Through the Options Clearing Corporation Pursuant to the Exemptive Authority in § 4(c) of the Commodity Exchange Act

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The Commodity Futures Trading Commission ("CFTC" or the "Commission") is proposing to exempt the trading and clearing of certain credit default products that are proposed to be traded on the Chicago Board Options Exchange ("CBOE") and cleared through the Options Clearing Corporation ("OCC") from any applicable provisions of the Commodity Exchange Act ("CEA").\1\ Authority for this exemption is found in Section 4(c) of the CEA.\2\ ---------------------------------------------------------------------------