Order Sunsetting Certain Large Trader Reporting Requirements for Physical Commodity Swaps
What happened
On July 21, 2026, the Commodity Futures Trading Commission (CFTC) issued an Order, signed by Donald Trump, making the routine position-reporting requirements of Part 20 (Swaps LTR Rules) "ineffective and unenforceable." As a result, "clearing organizations, clearing members, and swap dealers will no longer be required to file the daily and event-based position reports currently required under Part 20."
Why it matters
The CFTC now obtains similar data through its swap data reporting regime, making routine Part 20 reports largely duplicative. This change aims to reduce "significant and recurring costs" for market participants while preserving the CFTC's ability to request records via special call.
Who it affects
- ›Clearing organizations
- ›Clearing members
- ›Swap dealers
- ›Large traders in physical commodity swaps
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