CFTC Staff Letters
CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.
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Letter Type: Advisories Division: DMO Regulation Parts: 5h(a)(1), 37.3 Tags: Registration, SEF Issuance Date: Description: The Division of Market Oversight of the Commodity Futures Trading Commission is issuing this advisory to remind entities of the swap execution facility registration requirements set forth in the Commodity Exchange Act and Commission regulations and to highlight certain scenarios where entities may be required to register. |
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Letter Type: Advisories Division: MPD Regulation Parts: 1.17, 23.100, 23.101, 23.102 Tags: FCM, Margin, SD, Swap Dealer, Capital Issuance Date: Description: Advisory to SDs indicating they are not required to obtain approval to use a model to calculate the initial margin on uncleared swaps for purposes of determining the SD’s minimum capital requirement under Commission regulations. |
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Letter Type: Advisories Division: DSIO Regulation Parts: 4d, 4d(f), 1.11, 1.20, 1.32, 1.55, 22.2, 22.5 Tags: FCM, Segregation, Virtual Currency Issuance Date: Description: DSIO advisory to FCMs regarding accepting and holding customer virtual currency assets in segregation and guidance on practices to consider in developing and maintaining their risk management programs when holding such assets as customer funds. |
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Letter Type: No-Action, Advisories Division: DCR Regulation Parts: 1.56, 39.13 Tags: Initial margin, DCO, Disclosure, FCM, Margin, Guarantees Against Loss, Risk Management Issuance Date: Description: DCR DSIO Issue Supplemental Advisory Grant of No-Action Relief from 1.56 and 39.13(g)(8)(iii) |
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Letter Type: Advisories Division: COM, DMO, DCR, DSIO Regulation Parts: 1.11, 1.55, 1.73, 38, 39.13 Tags: DCM, DCO, FCM, COVID-19, Risk Management, Market Integrity Issuance Date: Description: DMO, DCO, and DSIO issue this advisory to remind DCMs, FCMs, and DCOs that they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing. |
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Letter Type: Advisories Division: DSIO Regulation Parts: 3.3 Tags: CCO, FCM, MSP, SD Issuance Date: Description: Advisory providing further guidance on certain requirements applicable to swap dealers, futures commission merchants, and major swap participants in connection with the preparation and submission of chief compliance officer annual compliance reports pursuant to § 3.3. |
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Letter Type: No-Action, Advisories Division: DCR, DSIO Regulation Parts: 1.56, 39.13 Tags: Initial margin, DCO, Disclosures, FCM, Margin, Guarantees Against Loss, Margin Withdrawals Issuance Date: Description: Advisory to FCMs and time-limited no-action relief to DCOs with respect to the treatment of separate accounts by FCMs. |
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Letter Type: Advisories Division: DSIO Regulation Parts: 23.154, 23.157, 23.158, 23.504, 23.600 Tags: Initial margin, Uncleared Swaps, Threshold Issuance Date: Description: Advisory clarifying that no documentation concerning the collection, posting and custody of initial margin is required to be completed until the initial margin threshold amount of $50 million has been exceeded. |
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Letter Type: Advisories Division: DMO, DCR Regulation Parts: 5, 5h(a)(1), 39, 39.12, 39.13, 40.2, 40.3 Tags: Issuance Date: Description: Advisory for exchanges and clearinghouses with respect to Virtual Currency Derivative Product Listings. |
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Letter Type: Advisories Division: DMO Regulation Parts: 43, 45, 49 Tags: Issuance Date: Description: Announcement of DMO review of all swaps reporting regulations, including opening of comment period. Overview of specific issues that DMO plans to address. |