The Division of Market Oversight and the Division of Clearing and Risk are issuing this advisory to remind DCMs and DCOs of certain Core Principle and regulatory obligations under the Commodity Exchange Act and Commodity Futures Trading Commission regulations related to controls designed to address market volatility.

This staff advisory provides guidance on the materiality or other criteria that the Commodity Futures Trading Commission’s Market Participants Division, the Division of Clearing and Risk, and the Division of Market Oversight will use to determine whether to make a referral to the Division of Enforcement (“DOE”) for self-reported violations, or supervision or non-compliance issues. This guidance furthers the implementation of DOE’s recent advisory, issued February 25, 2025, addressing its updated policy on self-reporting, cooperation, and remediation.

No-action positions in relation to the Commission’s swap clearing and uncleared swap margin requirements in connection with a court-supervised transfer, pursuant to the laws of the United Kingdom, of certain legacy swaps from Credit Suisse International to UBS AG London Branch following the merger of UBS Group AG and Credit Suisse Group AG.

The Division of Clearing and Risk of the Commodity Futures Trading Commission hereby withdraws CFTC Staff Advisory 23-07, Review of Risks Associated with Expansion of DCO Clearing of Digital Assets.

The Division of Market Oversight and the Division of Clearing and Risk of the Commodity Futures Trading Commission hereby withdraw CFTC Staff Advisory No. 18-14.

The conditional no-action position with respect to Regulation 39.13(g)(8)(iii) contained in CFTC Letter No. 19-17 is now further extended until July 21, 2025.

DCR is issuing an advisory to inform DCOs of the new compliance date for the amended daily reporting requirements.

Advisory regarding the clearing of options on spot commodity exchange traded funds (ETFs).

Modification of no-action position with respect to Part 43 and 45 reporting, as well as related sections of Parts 38 and 39, for binary options executed on or pursuant to the rules of KalshiEx and cleared through Klear.

No-action postion with respect to Part 43 and 45 reporting, as well as related sections of Parts 38 and 39, for binary options executed on or pursuant to the rules of MIAXdx and cleared through MIAXdx.