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, stating that they will not recommend enforcement action against designated contract markets, derivatives clearing organizations, and their participants for failing to comply with swap-related recordkeeping requirements and for failing to report data to swap data repositories related to fully collateralized event contract transactions. The relevant divisions plan to streamline the approval process and ensure uniform treatment of market participants. All prior beneficiaries of no-action letters regarding data reporting on similar contracts will continue to be covered. Entities seeking to list or clear similar contracts may apply for the same no-action position, and once approved, will be added to an appendix of the no-action letter.