CFTC Issues No-Action Letter to Phantom, Phantom Does Not Need to Register as a Broker

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Deep Tide TechFlow News, on March 17, the U.S. Commodity Futures Trading Commission (CFTC) Market Participants Division (MPD) announced that it has issued a no-action letter regarding Phantom Technologies Inc., exempting it from certain broker registration obligations under specific conditions.

The letter pertains to software services that Phantom plans to offer to users, aimed at facilitating transactions between users and registered futures commission merchants, introducing brokers, and designated contract markets. According to the letter, the MPD will not recommend enforcement action by the CFTC against Phantom or its related personnel for not registering as an introducing broker or for related personnel.

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