U.S. CFTC Issues No-Action Letter on Event Contract Data Reporting

Odaily Planet Daily News: The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Oversight and Division of Clearing and Risk have issued a no-action letter. For designated contract markets, derivatives clearing organizations, and their participants that fail to comply with swap-related recordkeeping requirements or fail to report data to swap data repositories in connection with fully collateralized event contract transactions, the CFTC will not recommend enforcement action. The relevant divisions plan to streamline the approval process and ensure uniform treatment of market participants. All beneficiaries of previous no-action letters regarding data reporting for similar contracts remain eligible. Entities wishing to list or clear similar contracts can apply to receive the same no-action position, and upon approval, will be added to the appendix of the no-action letter.