Release Number 8346-21

CFTC Staff Grants Temporary No-Action Relief to Derivatives Clearing Organizations from Amended Daily Reporting Requirements

January 04, 2021

— The Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) today granted temporary no-action relief to registered derivatives clearing organizations (DCOs) from the amended daily reporting requirements in CFTC Regulation 39.19. This relief expires on January 27, 2022.

The Commission unanimously approved a final rule amending certain regulations applicable to DCOs, including Regulation 39.19—which outlines daily reporting requirements—on December 18, 2019. [See CFTC Press Release No. 8097-19] DCOs were given until January 27, 2021 to comply with the amended regulations. 

Several DCOs, along with the Futures Industry Association, submitted a letter, dated November 6, to the CFTC requesting no-action relief from certain aspects of the amended daily reporting requirements. DCR is providing this temporary relief to provide the Commission time to consider the issues raised in the request and other related matters. Accordingly, during the relief period DCR will not recommend the Commission take enforcement action against a DCO for failing to comply with the amended daily reporting requirements, so long as that DCO continues to comply with the daily reporting requirements as they were prior to the amendments.