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Regulatory Reporting | CFTC

Before we delve into anything specific to the Commodity Futures Trading Commission (CFTC), we should first quickly cover some general terminology relating us US law.

Code of Federal Regulations

The Code of Federal Regulations (CFR) is the codification of the general and permanent rules and regulations (sometimes called administrative law) published in the Federal Register by the executive departments and agencies of the federal government of the United States. The CFTC is one such agency, meaning that its rule-makings are published in the Federal Register and so appear in the Code of Federal Regulations.

For example, the CFTC's Large Trader Reporting for Physical Commodity Swaps is published as Part 20 of Chapter I of Title 17 of the Code of Federal Regulations. Given that Parts are unique to Titles, the Chapter may be omitted. In other words, Title 17 only contains one Part 20 and that is within Chapter I. There is not a Part 20 within Chapter II, III or IV. When referring to a part of the Code of Federal Regulations, the general convention is to use the format Title CFR Part, for example 17 CFR 20. It is not clear why this order is chosen; it is probably the same reason that the US convention is to specify the month before the day in dates.

Title 17 of the Code of Federal Regulations is entitled "Commodity and Securities Exchanges" with the CFTC having been allocated parts 1 through 199, the SEC parts 200 through 399 and the Treasury parts 400 through 499. So any CFTC rulemaking will always be found in 17 CFR 1 through 17 CFR 199.

Transaction Reporting, Position Reporting and Position Limits

There are several CFTC regulations which fall within the general areas of transaction reporting, position reporting or position limits.

Each of the above has a dedicated section within this site where further details and commentary can be found.