Commodity Futures Trading Commission
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Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) has several statistical programs and publications that provide transparency into the U.S. derivatives markets. Its statistical work is a core part of its mission to oversee and regulate futures, swaps, and options markets. The CFTC relies heavily on data collected from market participants to monitor for fraud, manipulation, and to ensure market stability.
Key Statistical Reports and Programs
The CFTC's main statistical products are a series of publicly available reports that break down trading positions and market activity. These include:
| • | Commitments of Traders (COT) Reports: This is the most well-known of the CFTC's statistical reports. Published weekly, it provides a breakdown of the "open interest" (the number of outstanding contracts) in various futures and options markets. The report categorizes traders into groups like commercial traders, non-commercial traders, and non-reportable positions, offering insight into the market's structure and sentiment. |
| • | Weekly Swaps Report: This report provides a comprehensive view of the swap markets, which are a key part of the derivatives landscape. It offers data on various interest rate and credit default swaps, including open interest, notional amounts, and the types of market participants involved. |
| • | Bank Participation Report: Published monthly, this report provides data on the positions of banks in various financial and non-financial commodity futures markets. It helps to show the extent of bank involvement and exposure in these markets. |
| • | Financial Data for FCMs: The CFTC publishes select financial data from futures commission merchants (FCMs), which are firms that solicit or accept orders for futures contracts and futures options. This includes balance sheet information, helping to provide insight into the financial health of these market participants. |
Data and Analytics
The CFTC has a dedicated Division of Data (DOD) that oversees the agency's data strategy. The DOD is responsible for collecting, integrating, and analyzing the massive amounts of data flowing from derivatives markets. The CFTC receives billions of records daily, and it is leveraging advanced analytics, including artificial intelligence (AI), to monitor market activities, identify suspicious behavior, and inform regulatory policy. The agency also makes much of its data publicly available for download, supporting academic research and general market transparency.