Order Sunsetting Certain Large Trader Reporting Requirements for Physical Commodity Swaps

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission 17 CFR Part 20 AGENCY: Commodity Futures Trading Commission. ACTION: Final Order. SUMMARY: The Commodity Futures Trading Commission (“CFTC” or the “Commission”) is issuing this Order pursuant to § 20.9 of its regulations, the sunset provision of the Commission's large trader reporting rules for physical commodity swaps (“Part 20” or the “Swaps LTR Rules”). Based on the findings set out below, the Commission is rendering the routine position-reporting requirements of Part 20 ineffective and unenforceable, while preserving, pursuant to § 20.9(b), the Commission's authority to require the maintenance and production, on special call, of the underlying books, records, and futures-equivalent conversion methods. As a result, clearing organizations, clearing members, and swap dealers will no longer be required to file the daily and event-based position reports currently required under Part 20. DATES: This Order is effective on July 21, 2026. FOR FURTHER INFORMATION CONTACT: Stephen Andrews, Deputy General Counsel for Regulation, Office of the General Counsel, sdandrews@cftc.gov , 202-308-7563, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: I. Background Part 20 of the Commission's regulations requires large traders in certain physical commodity swaps and swaptions to file position reports with…