The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk issued a no-action position on swap data reporting and recordkeeping for certain binary and bounded swap contracts following a request from Bitnomial Exchange, LLC and Bitnomial Clearinghouse, LLC. Under the no-action letter, the divisions will not recommend the CFTC take enforcement action against Bitnomial, or their participants, for failing to comply with certain swap-related recordkeeping requirements or for failing to report swap data to swap data repositories for event contract transactions executed on or subject to Bitnomial Exchange rules and cleared through Bitnomial Clearinghouse, subject to the letter’s terms. The relief is described as limited to narrow circumstances and comparable to no-action letters issued for other similarly situated designated contract markets and derivatives clearing organizations.
Commodity Futures Trading Commission 2026-01-08
CFTC staff grants Bitnomial no-action relief on swap data reporting and recordkeeping for certain binary and bounded swap event contracts
The CFTC's Divisions of Market Oversight and Clearing and Risk issued a no-action position on swap data reporting and recordkeeping for certain binary and bounded swap contracts, following a request from Bitnomial Exchange, LLC and Bitnomial Clearinghouse, LLC. This relief, limited to specific circumstances, prevents enforcement action against Bitnomial and its participants for non-compliance with certain swap-related requirements, aligning with similar no-action letters for other designated contract markets and derivatives clearing organizations.