Release Number 8641-22

CFTC Staff Extends No-Action Letter Regarding Daily Reporting Requirements for Derivatives Clearing Organizations

December 19, 2022

Washington, D.C. — The Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) announced today it is extending a no-action letter regarding daily reporting requirements applicable to registered derivatives clearing organizations (DCOs) in CFTC Regulation 39.19.

On December 15, 2022, the CFTC published a notice of proposed rulemaking on DCO reporting that would remove from the CFTC’s DCO reporting regulations the requirement for DCOs to report to the CFTC, on a daily basis, variation margin and cash flow information by individual customer account. The requirement was adopted in 2020. 

In response to an industry request, DCR issued a time-limited no-action letter, CFTC Staff Letter No. 21-01. The letter was extended once in CFTC Staff Letter No. 21-31 and is set to expire on January 27, 2023. The no-action letter issued today extends the expiration of the no-action letter to the earlier of one year from today, or the date the Commission finalizes the proposed rule.