CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements
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Release Number 9042-25
CFTC Staff Issues
Supplemental Letter Regarding No-Action Position on Reporting,
Recordkeeping Requirements
January 31, 2025
WASHINGTON,
D. C. — The Commodity Futures Trading Commission’s Division of Market
Oversight and the Division of Clearing and Risk today announced they
have taken a no-action position regarding swap data reporting and
recordkeeping regulations. This position is in response to a request
from KalshiEX LLC, a designated contract market, and Kalshi Klear LLC,
a derivatives clearing organization, to modify CFTC Letter No. 24-15
to remove the condition prohibiting third-party clearing by
participants and to cover fully-collateralized variable payout
contracts.
The Divisions will not recommend the Commission
initiate an enforcement action against KalshiEX LLC, Kalshi Klear LLC,
or their participants for failure to comply with certain swap-related
recordkeeping requirements and for failure to report to swap data
repositories data associated with binary option transactions and
variable payout contract transactions executed on or subject to the
rules of KalshiEX LLC and cleared through Kalshi Klear LLC, subject to
the terms of the no-action letter. The supplemental letter also
removes the condition in CFTC Letter No. 24-15 that prohibits Kalshi
participants from clearing contracts through a third-party clearing
member. -CFTC-