Comments for Industry Filing 22-001

Industry Filing  22-001  //   PDF Version

Request for Comment on FTX Request for Amended DCO Registration Order

The Commodity Futures Trading Commission (Commission) has received inquiries from derivatives clearing organizations (DCO) or potential DCO applicants seeking to offer clearing of margined products directly to participants, such that participants would not clear through a futures commission merchant (FCM) intermediary (non-intermediated model).  LedgerX, LLC d.b.a. FTX US Derivatives (FTX), has submitted a request to amend its order of registration as a DCO to allow it to modify its existing non-intermediated model.  FTX currently clears futures and options on futures contracts on a fully collateralized basis.  FTX proposes to clear margined products while continuing with a non-intermediated model.