Large Trader Reporting Requirements

As previously agreed upon by members of the US Commodity Futures Trading Commission (CFTC) at the open meeting on June 7, 2023 (please see EventID 21565 for more information), the Commission is now launching a consultation on modifications to the large trader report under Statutory Instrument 17 CFR Part 17. In its newly published consultation document, the CFTC is suggesting to modernize the report by
(a) setting out in new Appendix C to Statutory Instrument 17 CFR 17 ALL reportable data fields in one table;
(b) removing the 80-character submission standard that was previously defined; and
(c) granting authority to the „Director of the Office of Data and Technology to determine the form, manner, coding structure, and electronic data transmission procedures for reporting the data elements in appendix C to this part and to determine whether to permit or require one or more particular data standards“. The new standard as to the form and manner of submission will be outlined in a corresponding new „guidebook“. The current proposal for the guidebook includes two alternatives for submitting report data to the Commission: a secure file transfer protocol (FTP) data feed based on an XML reporting standard and a web-based portal.
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As the above summary only presents the key elements of the new consultation, please refer to the original legal document for more detailed, comprehensive information.