On the 17th, the Market Participants Division of the US Commodity Futures Trading Commission (CFTC) announced a no-action position for passive software providers. This exempts them from the obligation to register as intermediary brokers when providing and selling software that intermediates between registered futures commission merchants (FCMs), registered intermediary brokers, designated contract markets, and users.
A no-action position indicates the authority's intention to refrain from recommending legal action for specific activities...
