CFTC Staff Issues No-Action Letter Related to Reporting and Recordkeeping Requirements for Fully Collateralized Binary Options
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Release Number 8960-24
CFTC Staff Issues No-
Action Letter Related to Reporting and Recordkeeping Requirements for
Fully Collateralized Binary Options
September 04,
2024
Washington, DC — The Commodity Futures Trading Commission
today announced the Division of Market Oversight and the Division of
Clearing and Risk have taken a no-action position regarding swap data
reporting and recordkeeping regulations in response to a request from
LedgerX LLC d/b/a MIAX Derivatives Exchange LLC (MIAXdx), a designated
contract market and derivatives clearing organization. The Divisions
will not recommend the CFTC initiate an enforcement action against
MIAXdx or its participants for certain swap-related recordkeeping
requirements and for failure to report data associated with fully
collateralized binary option transactions executed on or subject to
the rules of MIAXdx to swap data repositories. The no-action letter
is comparable to no-action letters issued for other similarly situated
designated contract markets and derivatives clearing organizations.
-CFTC-