7.3.3.1. FCM Special Account Reports
Each futures commission merchant and clearing member firm must submit a report to the CFTC each business day that it carries special accounts on its books. A special account is any commodity futures or option account that has a reportable position. A reportable position is any open contract position in a futures commodity that equals or exceeds some specified amount on a specific reporting market.
In other words, if on any given day an FCM carries an account that has open positions in a commodity on any single exchange in excess of some designated amount, it must report that position to the CFTC.
A sample of the reportable positions for selected commodities is shown in the table below.
|
Commodity |
Contracts |
|
Corn |
250 |
|
Cotton |
100 |
|
Live cattle |
100 |
|
S&P 500 index |
1,000 |
|
30-day federal funds |
600 |
|
30-year Treasury bonds |
1,500 |
|
3-month Eurodollar time deposits |
3,000 |
|
Sweet crude oil |
350 |