CFTC issues no-action position for passive software providers
by@CFTC
Summary
The CFTC staff has issued a no-action position regarding providers of passive software, clarifying their registration obligations without suggesting enforcement in particular situations. This regulatory approach differentiates the provision of passive software from the activities of active brokers within CFTC-regulated derivatives markets, indicating a nuanced understanding of the roles technology service vendors play in the field.
Analysis
CFTC: The Commodity Futures Trading Commission is the independent U.S. federal agency responsible for regulating the derivatives markets, including futures, options, and swaps. Its Market Participants Division handles oversight of intermediaries and issues guidance on registration requirements. In this development, CFTC staff issued a no-action position addressing providers of passive software that facilitates user access to registered futures platforms. Regulatory Approach: CFTC staff uses no-action positions to clarify registration obligations for passive technology providers without recommending enforcement in specific circumstances. Technology Service Vendors: The relief distinguishes passive software provision from active broker activities in CFTC-regulated derivatives markets.
Categories
crypto
Related sources
- https://www.cftc.gov/csl/26-09/download
- https://www.cftc.gov/PressRoom/PressReleases/9197-26
- https://www.coindesk.com/policy/2026/09/17/sec-rolls-out-long-awaited-innovation-exemption-for-tokenized-securities-venues
- https://www.findknowdo.com/news/03/17/2026/cftc-grants-ib-registration-relief-crypto-wallet-software-provider
- https://www.reuters.com/world/us-securities-regulator-rolls-out-five-year-exemption-tokenized-stock-trading-2026-09-17/
- https://x.com/CFTC/status/2080732545960816870
- https://katten.com/cftc-framework-for-technology-service-vendors-tsvs
- https://www.theblock.co/news/business/2026-09-17-crypto-com-registers-with-sec-for-single-stock-futures-plans-us-stock-perps-415355
- https://www.sec.gov/newsroom/speeches-statements/uyeda-statement-innovation-exemption-091726