CFTC Announces Review of RSBIX NFL Futures Contracts Proposed by Eris Exchange, LLC

      The CFTC recently announced a review of three RSBIX NFL futures contracts self-certified by Eris Exchange, LLC (ErisX): one based on the moneyline; the second on the point spread; and the third on total points for individual NFL games. ErisX’s filing states the futures contracts are designed to give Licensed Sportsbooks another way to hedge their exposure. The filing stresses that the proposed contracts are not “gaming” prohibited by CFTC Rule 40.1 because they are not based on the customer bets on the underlying event. The CFTC now has 90 days from December 23, 2020 to review and make a determination with respect to the submissions. The CFTC has also made available a list of questions it would like addressed in comments related to the proposal, which may provide some clues to where the Commission’s analysis will be focused.

      Previous post Next post

      More like this

      FINRA Requests Comment on Enhancements to TRACE Reporting for U.S. Treasury Securities

      FINRA recently issued a request for comment on Enhancements to TRACE Reporting for U.S. Treasury Securities. TRACE is the FINRA-developed…
      Read more

      SEC Adopts Modernized Marketing Rule for Investment Advisers

      The SEC recently approved reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments…
      Read more

      CFTC Division of Enforcement Issues Annual Report

      The CFTC’s Division of Enforcement recently issued its annual report for Fiscal Year 2020. A few of the highlights include…
      Read more

      SEC Adopts Clearing Agency Rule to Limit Potential for Overlapping or Duplicative Regulation

      The SEC recently adopted a rule to limit the potential for overlapping or duplicative regulation within its security-based swap regulatory…
      Read more

      CFTC Staff Publishes Updated Responses to FAQs Regarding Commission Regulation 4.27 and Form CPO-PQR

      The CFTC recently updated its FAQs regarding CFTC Regulation 4.27 and Form CPO-PQR. There are no new FAQs; rather, these…
      Read more

      NFA Compliance Rules 2-9 and 2-36: Members' Use of Third-Party Service Providers

      On March 24, 2021, the National Futures Association (“NFA”) provided Notice to Members requiring each Member to adopt and implement…
      Read more