Trade reporting system


trade reporting system

The CFTC operates a comprehensive system of collecting information on market participants as part of its market surveillance program. To ensure privacy of the information they provide, the CFTC has assigned confidential reporting numbers to reporting firms and traders. Exchange Code and Strike Price Format Position Entry for Reportable Traders PERT Online Large Trader Record Format. This data is reported separately by proprietary and reporting accounts by futures month, and for options by puts and calls, expiration date and strike price. An example of clearing member data for fictitious firms A and B is given below in Table 1: Chicago Board of Trade December Corn Future in contracts As of: The Commission staff uses data like this to identify large cleared positions in single markets or across many markets and exchanges, to audit large trader reports, and to resolve any account aggregation issue. Clearing member data, however, do not directly identify the beneficial owners of positions. The aggregate customer position reported for a clearing member could represent either a single trader or numerous traders. Also, the data would not reveal a circumstance where a single trader controls substantial portions of the customer positions with more than one clearing member, and therefore, could control a substantial portion of the market. The reports show futures and option positions of traders with positions at or above specific reporting levels as set by the Commission. Current reporting levels are found in CFTC Regulation The aggregate of all large system positions reported to the Commission usually represents 70 to 90 percent of the total open interest in any given market. The reporting level for large trader reports can range from 25 contracts to over 1, contracts. The level for any given market is based on the total open positions in that market, the size of positions held by traders in the market, the surveillance history of the market, and the size of deliverable supplies for physical delivery markets. The Commission has the discretion to raise or lower the reporting levels in specific markets to strike a balance between collecting sufficient information to oversee the markets and minimizing the reporting burden on traders that are reportable. Aggregate data concerning reported positions are published by the CFTC in its weekly Commitments of Traders reports. The data are aggregated to protect the identity of any individual reportable trader. Since traders frequently carry futures positions through more than one broker and control or have a financial interest in more than one account, the Commission routinely collects information that trade its surveillance staff to aggregate related accounts. Specifically, reporting firms must file a CFTC Form In addition, once an account reaches a reportable size, the Commission may contact the trader directly and require that the trader reporting a more detailed identification report, a CFTC Form Statement of Reporting Trader. CFTC Forms and 40 allow the CFTC system identify the name and address of the account, the person s controlling the trading, the person to contact regarding trading, the nature of the account e. The forms also show whether the account is system used for hedging cash market exposure. CFTC staff use this information to determine if the reported account is a new trader or is an additional account of an existing trader. If the account is an additional one of an existing trader, it is then aggregated with that of other related accounts currently being reported. The CFTC uses various means to ensure the accuracy of its large trader data. The large trader positions reported by clearing members are compared to clearing-member data reported by the exchanges. An inquiry is made to the appropriate exchange if:. The same procedure is used to compare large trader data reported by non-clearing FCMs and foreign brokers to the total positions they are carrying at other brokers or clearing members. Reporting firms are also subject to on-site audits by the exchange and CFTC staff. Raw large trader data are then transformed into analytical reports. An example of large trader data for three fictitious traders is given here in Table 2: Under 17 CFR Part 18, the CFTC also has the authority to require that a trader provide data on open contracts, purchases and sales, delivery notices, exchange of futures, and options exercised. This method of obtaining trade trader data is not used frequently. However, it is useful when a trader is trading through a number of reporting firms and there is concern that the normal data collection process is missing some important information. The Commission may issue a special call to a reporting firm or a trader under Parts 18 or 21 of its regulations, 17 CFR Parts 18 and 21, to investigate a threat of a market manipulation or other market disorder. The special call may also request information about positions and transactions in the underlying commodity. For example, the special call trade be used when system broker domestic or foreign is carrying large open positions but is showing few, if any, reportable accounts. Other occasions to use a special call may be when a trader is using too many brokers to be easily monitored through required reports, or when the trader holds positions below the reporting level, or when part of a trader's position is being carried through a foreign broker and the required information is not received system the broker or customer in a timely fashion or is not readily available for inspection. The Trade Form Statement of Cash Positions in Grains and CFTC Form They are used to determine whether a trader has sufficient cash positions that justify futures and option positions above the speculative limits. For example, in the cotton market, merchants and dealers file a weekly CFTC Trade report of their unfixed-price cash positions, which is used to publish a weekly Cotton On-Call report, a service to the cotton industry. The Cotton On-Call report shows how many unfixed-price cash cotton purchases and sales are outstanding against each cotton futures month. This includes inventories, purchases and sales of the cash commodity represented by the futures market, and its products and byproducts. United States futures markets are monitored daily to preserve their economic functions of hedging and price discovery. Apply to be a DCM Register as a DCO. Foreign Markets, Products, and Intermediaries. View Reporting CFTC Study on the Silver Futures Market pdf. Commodity Futures Trading Commission. Transparency International Contact Us. Market Surveillance CFTC Market Surveillance Program Large Trader Reporting Program Speculative Limits. Large Trader Reporting Program. Exchange Code and Strike Price Format Position Entry for Reportable Traders PERT Online Large Trader Record Format Clearing Member Data. RELATED LINKS List of: DCMs DCOs SEFs How to: Dodd-Frank Act Submit a Comment Forms and Submissions. Resources Budget and Performance Educational Material Privacy Policy Web Policy FOIA EEO Statement No Fear Act Inspector General USA. Actions CFTC Regulations Commodity Exchange Act Public Comments Tips and Complaints Industry Filings Whistleblower. CFTC Headquarters Three Lafayette Centre 21st Street, NW Washington, DC trade reporting system

2 thoughts on “Trade reporting system”

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