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

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