CFTC Provides Relief to DCOs from New Daily Reporting Requirements
The Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (CFTC) has issued no-action relief to derivatives clearing organizations (DCOs) from the CFTC’s recently adopted daily reporting requirements.
As background, the CFTC amended CFTC Rule 39.19 to require DCOs, among other things, to report daily initial margin, variation margin, cash flow, and position information on an individual customer account basis. The compliance date for these amended reporting requirements would have been January 27. However, DCR has provided no-action relief from the amended reporting requirements until January 27, 2022 to permit additional time for the CFTC and DCOs to address operational and technological issues.
The press release and access to Staff Letter 21-01 are available here.