The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter stating it will not recommend enforcement action against MIAX Futures Exchange, LLC for temporarily providing for the trading of Minneapolis Hard Red Spring Wheat options on futures exclusively through block trades, subject to specified conditions. The relief is intended to allow market participants, including those who are not Eligible Contract Participants under section 1a(18) of the Commodity Exchange Act, to trade out of or offset open positions. MIAX requested the relief due to the upcoming unavailability of an electronic trading system for these options. The no-action position applies from June 29 to August 29, 2025, and the proposed relief was open for public comment from June 23 to June 25, 2025.
Commodity Futures Trading Commission 2025-06-25
Commodity Futures Trading Commission grants MIAX Futures time-limited no-action relief to trade Minneapolis Hard Red Spring Wheat options only via block trades
The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter allowing MIAX Futures Exchange, LLC to temporarily trade Minneapolis Hard Red Spring Wheat options on futures exclusively through block trades, under specified conditions. This relief enables market participants, including non-Eligible Contract Participants, to manage open positions due to the lack of an electronic trading system. The no-action position is effective from June 29 to August 29, 2025.