Release Number 8505-22

CFTC Extends Public Comment Period on FTX Request for Amended DCO Registration Order

March 24, 2022

Washington, D.C. — The Commodity Futures Trading Commission is extending the deadline for the public comment period on a request from LedgerX, LLC d.b.a. FTX US Derivatives (FTX) to amend its order of registration as a derivatives clearing organization (DCO).

FTX currently offers clearing of futures and options on futures contracts on a fully collateralized basis directly to retail participants (non-intermediated model). In its request for an amended order of registration, FTX proposes to clear margined products for retail participants while continuing with a non-intermediated model. 

On March 10, 2022, the CFTC announced that it is seeking public comment on FTX’s request, on both specific questions as well as policy issues raised by use of a non-intermediated model in this manner. The CFTC is extending the deadline by which comments must be received by 30 days, such that comments should now be submitted on or before May 11, 2022. 

The specific questions are available here. CFTC recommends potential commenters review FTX documents at this link as you are considering your comments. Comments may be submitted electronically through the CFTC’s Comments Online process. All comments received will be posted on the CFTC website.