The Commodity Futures Trading Commission published a Notice of Proposed Rulemaking on June 25 that would fundamentally change how fully collateralized event contracts are reported. Instead of treating these contracts like swaps, the CFTC wants to move them into a futures-style reporting regime.
Event contracts have been operating under temporary regulatory relief since 2017. The CFTC is finally trying to make it permanent.
What the proposal actually does
The NPRM introduces a new regulatory section, §16.03, specifically dedicated to “Covered Event Contracts.”
Under the current setup, fully collateralized event contracts have been subject to swap data repository compliance requirements. The proposed framework would transition reporting obligations to Parts 15 through 18 of CFTC regulations, which govern futures and options reporting. Futures commission merchants, clearing members, and other market participants would report transaction data under these established rules instead.
