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CFTC Press Releases·

CFTC Issues No-Action Letter for DCMs Regarding Converting Existing Perpetual-Style Broad-Based Security Index Futures into True Perpetual Futures

  • The CFTC issued a no-action letter on October 5, 2026, allowing DCMs to convert existing perpetual-style broad-based security index futures into true perpetual futures.
  • DCMs may remove expiration dates from current contracts & implement amendments effective upon meeting specific customer protection & procedural conditions.
  • Required conditions include soliciting feedback from market participants with open positions, providing advance notice & an exit opportunity, offering appropriate risk disclosures, & ensuring no other material terms are modified.
  • DCMs must file amendments under CFTC Regulations 40.5 or 40.6 & certify compliance with all stated conditions.
  • The no-action relief granted in this letter expires on October 20, 2026.