June 25, 2024 - In a letter filed with the Commodity Futures Trading Commission, the FIA Principal Traders Group (FIA PTG) raised concerns with the self-certified rule change by the Chicago Board of Trade that extends the block trade reporting window for certain CBOT US Treasury futures contracts.
FIA PTG has a long history of supporting efforts to increase transparency in the US Treasury markets and accordingly has significant concerns with this rule change.
This rule change, which becomes effective on June 30, will extend the trade reporting time for “large” block trades in US Treasury futures contracts from 5 to 15 minutes, which in turn will delay the dissemination of transaction and price data for certain large transactions. FIA PTG believes that these types of delays reduce market transparency which results in information asymmetries and reduced market resiliency as well as potentially impacting other related markets.
Read the full letter here.
