CFTC Staff Letters
CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.
| Description | |
|---|---|
 26-24 |
Letter Type: No-Action Division: DMO Regulation Parts: 15, 16, 17, 17.01 Tags: Large Trader, Reporting, Ownership and Control Issuance Date: Description: No-action position concerning application of the Commission’s reporting regulations applicable to exclusively self-cleared contracts to contracts traded by a mix of direct and intermediated participants. See also: Request Letter Requester(s): ELECX |
| 26-23 |
Letter Type: Advisories Division: DMO Regulation Parts: 40.5, 40.6 Tags: Contract Market, Core Principles, DCM, Event Contract, Contract Terms and Conditions Amendments Issuance Date: Description: Staff of the Division of Market Oversight (DMO) are issuing this advisory to remind designated contract markets (DCMs) of their regulatory obligations under the Commodity Exchange Act (“Act”) and Part 40 of the Commission’s regulations when submitting self-certifications for market-maker, liquidity, trading, or incentive programs under CFTC regulations 40.5 and 40.6. This advisory outlines staff expectations regarding both procedural and substantive content for submissions made pursuant to Rule 40.5 and 40.6, including amendments or changes to such programs, and submission procedures. Requester(s): CFTC |
| 26-22 |
Letter Type: Advisories Division: DMO Regulation Parts: 40.2, 40.3 Tags: Contract Market, Core Principles, DCM, SEF, Event Contract, Documentation, Part 40, Contract Terms and Conditions Amendments Issuance Date: Description: Staff of the Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) are issuing this advisory to remind designated contract markets (DCMs) of the proper procedures for submitting self certifications of an event contract series. The advisory addresses the practice of submitting broad, template style certifications that combine many potential event contract permutations into a single, vague certification. This practice limits DMO’s ability to determine whether a DCM has supplied all of the information, explanation, and analysis required by Commission Regulation §?40.2 and has adequately evaluated the settlement methodology, data sources, and core-principles compliance of any contract it intends to list on the DCM. The guidance reiterates that broad, template-style certifications should not be submitted under Commission Regulation §?40.2(a) and explains when closely related event contracts may appropriately be certified as a class or submitted for approval under Commission Regulations §§?40.2(d) or 40.3. Requester(s): CFTC |
| 26-21 |
Letter Type: No-Action Division: DMO Regulation Parts: 38.3, 40.1 Tags: DCM, Dormancy Issuance Date: Description: Kraken Derivatives Exchange Inc. (f/k/a Small Exchange, Inc.) – Extension of Time-Limited No-Action Position with respect to Certain Provisions under the Commission’s Dormancy Framework for Registered Entities. See also: Request Letter Requester(s): SMFE |
| 26-20 |
Letter Type: No-Action Division: DMO, DCR, MPD Regulation Parts: 2(h)(1), 2(h)(1)(A), 2(h)(8), 1, 36, 37.3, 43, 50 Tags: Clearing, Clearing Requirement, DCM, DCO, IB, Portfolio, Recordkeeping, Registration, Reporting, Risk, SEF, Swap, Swaps, Trade Execution, Trade Execution Requirement, Part 43, SEF Registration, Swap Execution Facility, Exempt SEF, Part 50, Part 36, Part 1 Issuance Date: Description: Provides, subject to certain conditions, no-action positions for post-trade risk reduction service providers for failure to register as a swap execution facility, and for those entering into swaps that are subject to the swap clearing requirement and trade execution requirement. See also: Request Letter Requester(s): CAPLLC, QTL, TRO |
| 26-19 |
Letter Type: No-Action Division: DMO Regulation Parts: 40.6 Tags: Perpetual Futures, Perpetual Style Futures, Contract Terms and Conditions Amendments Issuance Date: Description: The Commodity Futures Trading Commission’s Division of Market Oversight today announced it has issued no-action relief to designated contract markets seeking to convert their existing perpetual style digital commodity futures contracts into true digital commodity perpetual futures. See also: Request Letter 1 Request Letter 2 Requester(s): BTNL, COINBASE |
| 26-18 |
Letter Type: No-Action Division: DMO Regulation Parts: 38.3, 40.1 Tags: DCM, Dormancy Issuance Date: Description: Cboe Digital Exchange, LLC - Time-Limited No-Action Position with respect to Certain Provisions under the Commission’s Dormancy Framework for Registered Entities See also: Request Letter Requester(s): ERISDCM |
| 26-17 |
Letter Type: No-Action, Interpretative Division: MPD Regulation Parts: 30.1, 30.7 Tags: FCM, Foreign Future, Margin, Foreign Broker, Digital Commodities, Payment Stablecoins Issuance Date: Description: Staff Interpretative Letter Regarding the Categorization of Deribit Perpetuals as Foreign Futures and No-Action Position Regarding Digital Commodities and Payment Stablecoins Deposited to Margin Customer Positions with a Foreign Broker Under a Right of Re-Use See also: Request Letter Requester(s): CFM |
| 26-16 |
Letter Type: Advisories Division: DMO, DCR, MPD Regulation Parts: 4d, 5b(c)(2)(B), 5b(c)(2)(D), 1.11, 1.20, 1.55, 22.2, 30.7, 37, 37.200, 37.203, 37.204, 37.400, 37.401, 37.405, 37.1400, 37.1401, 38, 38.150, 38.152, 38.154, 38.155, 38.157, 38.250, 38.251, 38.1050, 38.1051, 39, 39.13, 39.18, 40 Tags: Clearing, Collateral, DCM, DCO, FCM, SEF, Settlement, Trading, Risk Management, Market Integrity, Part 40, System Safeguards, Business Continuity-Disaster Recovery, 24/7 Trading, 24/7 Clearing, 24/7 Intermediation Issuance Date: Description: Staff of the Division of Clearing and Risk (“DCR”), Division of Market Oversight (“DMO”), and Market Participants Division (“MPD”) (collectively, the “Divisions”) of the Commodity Futures Trading Commission (“CFTC” or “Commission”) are issuing this advisory to set forth CFTC staff’s expectations with respect to, designated contract markets (“DCMs”), swap execution facilities (“SEFs”), and derivatives clearing organizations (“DCOs”) who are seeking to extend trading and/or clearing operations to a 24 hours a day, 7 days a week (“24/7”) basis as well as futures commission merchants (“FCMs”) seeking to intermediate such operations on a 24/7 basis. This staff advisory is informational and does not create new obligations on registered entities, nor does it supersede the Commodity Exchange Act (“CEA”) or Commission regulations thereunder. Requester(s): CFTC |
| 26-15 |
Letter Type: Advisories Division: DOE Regulation Parts: 2(a) Tags: Issuance Date: Description: New Division of Enforcement Policy on Cooperation |