CFTC Staff Letters
CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.
| Description | |
|---|---|
 25-25 |
Letter Type: No-Action Division: DMO Regulation Parts: 43.3, 45.14 Tags: Reporting, Swap Data Issuance Date: Description: No-action position stating the Division will not recommend the Commission take an enforcement action against a reporting counterparty that fails to submit a swap data error correction notification with respect to an error if, at the time the reporting counterparty initially discovers and assesses the impact of an error, the reporting counterparty makes a reasonable determination that the number of reportable trades affected by the error does not exceed five percent of the reporting counterparty’s open swaps for the relevant asset class in swaps for which it was the reporting counterparty. See also: Request Letter Requester(s): ISDA, SIFMA |
| 25-24 |
Letter Type: No-Action Division: DMO Regulation Parts: 37.3 Tags: SEF, Order Book, Permitted Transactions, Minimum Trading Functionality, Swap Execution Facility Issuance Date: Description: No-action letter stating that the Division will not recommend that the Commission commence an enforcement action against a swap execution facility (“SEF”) that does not satisfy the minimum trading functionality requirement set forth in Commission regulation 37.3(a)(2) by offering an order book as defined in Commission regulation 37.3(a)(3) (an “Order Book”), in connection with swap transactions executed on the SEF that are not subject to the trade execution requirement in Commodity Exchange Act (“CEA” or “Act”) section 2(h)(8) (“Permitted Transactions”). See also: Request Letter Requester(s): LSEG SEF |
| 25-23 |
Letter Type: No-Action Division: DMO, DCR Regulation Parts: 38.8, 38.10, 38.951, 39.20, 43, 45 Tags: Reporting, Swap, Swap Data, Swaps, Event Contract, Part 43, Binary Option, Part 45 Issuance Date: Description: No-action postion with respect to Part 43 and Part 45 reporting, as well as related sections of Parts 38 and 39, for binary options executed on or pursuant to the rules of CME and cleared through CME. See also: Request Letter Requester(s): CME |
| 25-22 |
Letter Type: Advisories Division: DCR Regulation Parts: 1a(15) Tags: DCO, Prime Brokerage, Withdrawal Issuance Date: Description: The Division of Clearing and Risk of the Commodity Futures Trading Commission hereby withdraws CFTC Staff Advisory 23-06, Staff Advisory Relating to Prime Brokerage Arrangements and Derivatives Clearing Organization Registration. Requester(s): CFTC |
| 25-21 |
Letter Type: No-Action Division: DMO Regulation Parts: 150.4 Tags: Aggregation, Position Limits Issuance Date: Description: Extension of no-action positions granted in CFTC Staff Letter No. 22-09, which granted no-action positions from compliance with certain position aggregration requirements in Commission Regulation 150.4. See also: Request Letter Requester(s): FIA, MFA, SIFMA AMG |
| 25-20 |
Letter Type: No-Action Division: DMO, OGC Regulation Parts: 37, 38, 48 Tags: Registration Issuance Date: Description: This letter serves to amend CFTC Letter No. 14-130, which permits Victoria University of Wellington, New Zealand (“Victoria University”) to operate a not-for-profit market for the trading of event contracts and the offering of such event contracts to U.S. persons (“the Market”). The Market has been operating under the trade name “PredictIt.” All terms of CFTC Letter 14-130 not amended by this letter shall remain in effect. See also: Request Letter Requester(s): PMRC INC, PREDICTIT, VICU |
| 25-19 |
Letter Type: Advisories Division: DOE Regulation Parts: 9(a)(5) Tags: Issuance Date: Description: In furtherance of Executive Order 14294, the Division of Enforcement (“DOE”), as the Division of the Commodity Futures Trading Commission responsible for making referrals to the Department of Justice, is publishing this Advisory to announce the framework to be followed when DOE staff considers whether to refer potential violations of criminal regulatory offenses to the Department of Justice. Requester(s): CFTC |
| 25-18 |
Letter Type: No-Action Division: DMO Regulation Parts: 45 Tags: Recordkeeping, Reporting, Swap Data Issuance Date: Description: Extension of no-action position with respect to Part 45 for entities submitting swaps for clearing by derivatives clearing organizations (DCOs) operating consistent with CFTC exemptive orders or no-action positions provided by CFTC staff. See also: Request Letter Requester(s): ISDA |
| 25-17 |
Letter Type: No-Action Division: DMO Regulation Parts: 1.38, 38.500, 40.4, 40.6 Tags: Block Trades, DCM, Execution, DCM Core Principle 9, Part 40 Issuance Date: Description: After considering the request of MIAX Futures and related facts and circumstances, the Division believes that temporary no-action positions are warranted to provide participants in the HRSW Options market with a means to trade out of or offset their open positions in the September 2025 and December 2025 expirations when electronic trading is no longer available. Accordingly, the Division will not recommend that the Commission take an enforcement action against MIAX Futures in connection with the implementation of the Temporary HRSW Options Block Trading Protocol under DCM Core Principle 9 and Commission regulation 1.38. Further, the Division will not recommend that the Commission take an enforcement action against MIAX Futures under CEA section 5c(c) of the Act and associated Commission regulations under Part 40 if MIAX Futures amends its rulebook to implement the Temporary HRSW Options Block Trading Protocol before June 30, 2025, when an electronic trading system will no longer be available for the HRSW Options. See also: Request Letter Requester(s): MIAX |
| 25-16 |
Letter Type: No-Action Division: DMO Regulation Parts: 45, 46 Tags: Foreign, Foreign Transactions, MSP, Reporting, SD, Swap Dealer, Cross-border, Non-US Swap Dealers, Non-US MSP Issuance Date: Description: Extension of Time-Limited No-Action Position from Certain Requirements of Part 45 and Part 46 of the Commission’s Regulations, for Certain Swap Dealers and Major Swap Participants Established under the Laws of Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom See also: Request Letter Requester(s): BAM, IIB, ISDA, SIFMA |