CFTC Staff Letters

CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.

PDF Description
PDF Image20-17 Letter Type: Advisories
Division: COM, DMO, DCR, DSIO
Regulation Parts: 1.11, 1.55, 1.73, 38, 39.13
Tags: DCM, DCO, FCM, COVID-19, Risk Management, Market Integrity
Issuance Date:
Description:

DMO, DCO, and DSIO issue this advisory to remind DCMs, FCMs, and DCOs that they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing.

PDF Image19-24 Letter Type: Advisories
Division: DSIO
Regulation Parts: 3.3
Tags: CCO, FCM, MSP, SD
Issuance Date:
Description:

Advisory providing further guidance on certain requirements applicable to swap dealers, futures commission merchants, and major swap participants in connection with the preparation and submission of chief compliance officer annual compliance reports pursuant to § 3.3.

PDF Image19-17 Letter Type: No-Action, Advisories
Division: DCR, DSIO
Regulation Parts: 1.56, 39.13
Tags: Initial margin, DCO, Disclosures, FCM, Margin, Guarantees Against Loss, Margin Withdrawals
Issuance Date:
Description:

Advisory to FCMs and time-limited no-action relief to DCOs with respect to the treatment of separate accounts by FCMs.

PDF Image19-16 Letter Type: Advisories
Division: DSIO
Regulation Parts: 23.154, 23.157, 23.158, 23.504, 23.600
Tags: Initial margin, Uncleared Swaps, Threshold
Issuance Date:
Description:

Advisory clarifying that no documentation concerning the collection, posting and custody of initial margin is required to be completed until the initial margin threshold amount of $50 million has been exceeded.

PDF Image18-14 Letter Type: Advisories
Division: DMO, DCR
Regulation Parts: 5, 5h(a)(1), 39, 39.12, 39.13, 40.2, 40.3
Tags:
Issuance Date:
Description:

Advisory for exchanges and clearinghouses with respect to Virtual Currency Derivative Product Listings.

PDF Image17-33 Letter Type: Advisories
Division: DMO
Regulation Parts: 43, 45, 49
Tags:
Issuance Date:
Description:

Announcement of DMO review of all swaps reporting regulations, including opening of comment period. Overview of specific issues that DMO plans to address.

PDF Image17-25 Letter Type: Advisories
Division: DMO
Regulation Parts: 37.1303, 38.1101
Tags:
Issuance Date:
Description:

Guidance clarifying the expenses that must be included and those that can be reasonably excluded in a DCM’s or SEF’s calculation of projected operating costs.

PDF Image16-75 Letter Type: Advisories
Division: DSIO
Regulation Parts: 1.25
Tags:
Issuance Date:
Description:

Practical Application of No-Action Letter No. 16-68 Regarding Investments in Money Market Mutual Funds

PDF Image16-62 Letter Type: Advisories
Division: DSIO
Regulation Parts: 3.3
Tags: CCO
Issuance Date:
Description:

Advisory regarding chief compliance officer reporting lines for swap dealers, major swap participants, and futures commission merchants.

PDF Image16-61 Letter Type: Advisories
Division: DCR
Regulation Parts: 39.39
Tags: SIDCO
Issuance Date:
Description:

Staff of the Division of Clearing and Risk prepared guidance to DCOs in order to aid DCOs in revising and improving their Recovery Plans and Wind-down Plans, and in preparing proposed rule submissions to implement their Recovery Plans and Wind-down Plans.