CFTC Issues No-Action Statement for Passive Software Providers

The U.S. Commodity Futures Trading Commission (CFTC) Market Participants Division has issued a no-action position statement regarding passive trading software providers. This statement is similar to the position in Staff Letter 26-09 and applies to such providers. Under specific conditions, the division will not recommend enforcement action against relevant service providers and their affiliates for failing to register as introducing brokers. This position only covers activities related to providing and promoting software that facilitates users in trading with registered futures commission merchants, introducing brokers, and designated contract markets. Staff Letter 26-09 previously addressed the crypto wallet Phantom.

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