CFTC’s Division Of Market Oversight Provides Time-Limited No-Action Relief from Certain Audit Trail Requirements In CFTC Regulations Related To Post-trade Allocation

The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) today provided time-limited no-action relief for Swap Execution Facilities (SEFs) from the requirements to capture post-trade allocation information in their audit trail data, as required under CFTC Regulations.

DMO’s no-action relief expires on November 15, 2017, and is subject to the following conditions:

The SEF must have a rule that requires market participants to provide post-trade allocation information to the SEF for particular trades, if the SEF, at the request of the CFTC or otherwise, requests such information; and
In the course of a trade practice surveillance or market surveillance investigation into any trading activity involving post trade allocations, upon such request pursuant to condition 1) above, the SEF must ascertain whether a post-trade allocation was made, and if so, the SEF must request, obtain, and review the post-trade allocation information as part of its investigation.

- RELATED LINKS
- CFTC Staff Letter 15-68

During this period of relief, DMO will continue to work with SEFs and other parties involved in the allocation workflow to identify methods for obtaining post-trade allocation information.