CFTC Issues Statement on the Ongoing Impact to Reporting

In view of the recent cyber-related incident at ION Cleared Derivatives who is „a subsidiary of ION Markets), a third-party service provider of cleared derivatives order management, order execution, trading, and trade processing“ several Divisions of the U.S. Commodity Futures Trading Commission (CFTC) have issued a joint statement. Thereafter, the weekly Commitments of Traders report will be postponed as several market participants are still facing issues with the submission of their trading data to the CFTC, although the causes of the above noted cyber incident have meanwhile been remedied.
Additionally, firms subject to the obligation to file the large trader report which is required under Statutory Instrument 17 CFR Part 17, „Reports by reporting markets, futures commission merchants, clearing members, and foreign brokers“ shall do all they can to comply with their daily reporting obligations; if needed, incorrect reports shall be resubmitted furnishing correct data once their reporting systems are again operational.