CFTC warns DCMs on self-certifying incentive programs

By Atlas Watchline Staff · Regulatory · August 12, 2026

The CFTC’s Division of Market Oversight reminded designated contract markets about filing requirements for market-maker, liquidity, trading and incentive programs.

The Commodity Futures Trading Commission’s Division of Market Oversight issued an advisory reminding designated contract markets of their obligations when self-certifying market-maker, liquidity, trading or incentive programs under CFTC Regulations 40.5 and 40.6.

The staff said it has seen a growing number of incentive-program rule filings under Regulation 40.6(a), especially filings tied to event contract products, that contain procedural or substantive deficiencies. The CFTC said those gaps can make it harder for staff to determine whether a designated contract market gave adequate notice of program terms and properly assessed compliance with core principles and other Commission requirements.

The guidance covers both the content and the submission process for program filings. It applies to initial submissions, amendments and changes to those programs, and it sets out staff expectations for procedural and substantive information in filings under Regulations 40.5 and 40.6.

The CFTC said the advisory is aimed at designated contract markets, the venues that list contracts for trading under the commission’s rules. The agency did not add other details in the press release beyond the filing concerns and the scope of the guidance.

Sources

• CFTC press release

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