CFTC issues no-action letter to Electron Exchange on large trader reporting
The Commodity Futures Trading Commission’s Division of Market Oversight said Electron Exchange DCM LLC may submit large trader reporting for direct participants under a no-action position.
The Commodity Futures Trading Commission’s Division of Market Oversight said Electron Exchange DCM LLC may submit large trader reporting for direct participants under a no-action position.
The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter to Electron Exchange DCM LLC, a designated contract market, allowing it to submit large trader reporting on behalf of direct participants. The reporting would be treated as though Electron Exchange’s contracts were self-cleared contracts.
The CFTC said large trader reporting is part of its market oversight framework. In this case, the agency said Electron Exchange may handle that reporting in a way that is treated the same as self-cleared contracts for the purpose described in the press release.
The press release excerpt did not provide additional detail on the scope, conditions or duration of the no-action position. It also did not say whether the letter changes any other reporting obligations.
Electron Exchange DCM LLC is identified in the release as a designated contract market. The CFTC excerpt did not include a quote from commissioners or company officials.
No other facts were provided in the source excerpt about next steps, and the CFTC release did not describe any enforcement action tied to the letter.
Sources
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