§ 39.19 PROPOSED 

REQUIREMENT DESCRIPTION CONTENTS OF REPORT TIME TO REPORT

General Reporting Instructions

(a) General 

Instruction

Each DCO shall provide to the CFTC the information specified in this section and any other information that the CFTC deems necessary to 

conduct its oversight of a DCO.

(b)(1) Submission of 

reports

Unless otherwise specified by the CFTC or its designee, each DCO shall submit the information required by this section to the CFTC

electronically and in a form and manner prescribed by the CFTC.

(b)(2) Time Zones Unless otherwise specified by the CFTC or its designee, any stated time in this section is Central time for information concerning DCOs located

in that time zone, and Eastern time for information concerning all other DCOs.

(c)(1) Daily Reporting

(c)(1)(i) Initial Margin Initial margin requirements and initial margin on deposit for each clearing member, by origin

Compiled as of the end 

of each trading day 

and submitted to the 

Commission by 10:00 

a.m. on the following 

business day

(c)(1)(ii) Daily Variation 

Margin

Daily variation margin, separately listing the mark-to-market amount collected from or paid to each clearing

member, by origin, for variation margin on futures, options on futures, commodity options, and swap transactions

(c)(1)(iii) Cash Flows All other daily cash flows relating to clearing and settlement including, but not limited to, option premiums and

payments related to swaps such as coupon amounts, collected from or paid to each clearing member, by origin

(c)(1)(iv) End-of-day 

Positions End-of-day positions for each clearing member, by origin

(c)(2) Quarterly Reporting

Financial 

Resources

A quarterly report of the DCO’s financial resources 

as required by § 39.11(f)

39.11(f) Requirements:

(i) the amount of financial resources necessary to meet the 

requirements set forth in the regulation; and

(ii) the value of each financial resource available to meet

those requirements (including financial statement, and 

guaranty fund info, if used).

17 business days after 

end of quarter

(c)(3) Annual Reporting

(c)(3)(i) CCO Annual 

Report CCO Annual Report Required by § 39.10 Contents required by § 39.10. Concurrently, not later 

than 90 days after the 
§ 39.19 PROPOSED 

REQUIREMENT DESCRIPTION CONTENTS OF REPORT TIME TO REPORT

(c)(3)(ii) Financial 

Statements

Audited year-end financial statements of the DCO or if none for the DCO, the consolidated financial statements of the 

parent company

end of DCO's fiscal 

year; DCOs may apply 

to the CFTC for 

extensions under 

(c)(3)(iii).

(c)(4) Event-Specific Reporting

(c)(4)(i)

Financial 

Resources 

Decrease

A decrease of 10 % in the total value of the financial 

resources required to be maintained by the DCO 

under § 39.11(a) either: (1) from the last quarterly 

report submitted under § 39.11(f) or (2) from the 

value as of the close of the previous business day,

(A) The total value of the financial resources (1) as of the 

close of business the day the 10 % threshold was reached, and

(2) if reporting a decrease in value from the previous business

day, the total value of the financial resources immediately 

prior to the 10 % decline;

1 business day

following the day the 

10% threshold was 

reached

(c)(4)(ii) Ownership 

Equity Decrease

A decrease of 20% or more in ownership equity 

from the last reported ownership equity balance as 

reported on a quarterly or audited financial statement 

required to be submitted by paragraph (c)(2) or 

(c)(3)(ii), respectively.

(A) (i) A pro forma financial statement reflecting the DCO’s 

estimated future financial condition following the anticipated 

decrease for reports submitted prior to the anticipated 

decrease or (ii) a current financial statement for reports 

submitted after such a decrease; and (B) details describing the 

reason for the decrease or anticipated decrease in the balance.

No later than 2 

business days prior to 

for an event which the 

DCO knows or should 

reasonably know will 

cause a decrease.

Otherwise, no later 

than 2 business days 

after such decrease in 

ownership equity.

(c)(4)(iii)

Deficit in SixMonth Liquid 

Asset 

Requirement

A deficit in the six-month liquid asset requirement of 

§39.11(e)(2). Notice

Immediate Notice 

when a DCO knows or 

reasonably should 

know

(c)(4)(iv) Change in

Working Capital When working capital becomes negative

(A) Balance sheet that reflects the DCO’s working capital, 

and 

(B) an explanation as to the reason for the negative balance.

No later than two 

business days after 

(c)(4)(v) Intraday Margin

Calls

Any intraday initial margin call to a clearing 

member.

Separately list each request and include the name of the

clearing member, the amount requested and the account

origin.

No later than 1 hour 

following the margin 

call.

(c)(4)(vi) Delays in Initial

Margin Collection

When a DCO has not received additional initial 

margin that it requested from a clearing member 

within the time frame allowed by the DCO’s

rules and procedures.

Notice Immediate noice
§ 39.19 PROPOSED 

REQUIREMENT DESCRIPTION CONTENTS OF REPORT TIME TO REPORT

(c)(4)(vii)

Request to 

Clearing Member

to Reduce 

Positions

A DCO’s request to a clearing member to reduce its 

positions because the DCO has determined that the 

clearing member has exceeded its exposure limit or 

that the clearing member has failed to meet an initial 

or variation margin call or fulfill any other financial 

obligation to the DCO.

(A) The name of the clearing member;

(B) The time the clearing member was contacted;

(C) The number of positions by which the DCO requested

the clearing member to reduce its position size;

(D) All contracts that are the subject of the request; and

(E) The reason for the request.

Immediate notice

(c)(4)(viii)

Determination to 

Transfer or 

Liquidate

Positions of 

Clearing Member

A determination that any position a DCO carries for 

one of its clearing members must be liquidated 

immediately, transferred immediately, or that the 

trading of any account of a clearing member shall be 

only for the purposes of liquidation because that 

clearing member has failed to meet an initial or 

variation margin call or fulfill any other financial 

obligation to the DCO. 

(A) The name of the clearing member;

(B) The time the clearing member was contacted;

(C) The contracts that are subject to the determination;

(D) The number of positions that are subject to the

determination;

and

(E) The reason for the determination. 

Immediate notice

(c)(4)(ix) Clearing Member

Default

The default of a clearing member. An event of 

default shall be determined in accordance with the 

rules of the DCO.

(A) The name of the clearing member;

(B) The contracts the clearing member defaulted upon;

(C) The number of positions the clearing member defaulted

upon; and

(D) The amount of the financial obligation.

Immediate notice

(c)(4)(x)

Change in 

Ownership or 

Corporate or 

Organizational 

Structure

Any anticipated change in the ownership or 

corporate or organizational structure of the DCO

or its parent company that would: (i) result in at

least a 10 % change of ownership of the DCO, (ii) 

create a new subsidiary or eliminate a current

subsidiary of the DCO or its parent company or (iii)

result in the transfer of all or substantially all of its 

assets, including its registration as a DCO to

another legal entity.

(1) a chart outlining the new ownership or corporate or 

organizational structure;

(2) a brief description of the purpose and impact of the

change; and

(3) any relevant agreements effecting the change and

corporate documents such as articles of incorporation and 

bylaws.

No later than 3 months

prior to the anticipated

change for events

which the DCO knows 

or reasonably should 

have known about. 

Other: Immediately 

after it knows

(c)(4)(x)(D) Confirmation of

Change Report

Consummation of the change in ownership or 

corporate or organizational structure

Notice

No later than 2 

business days 

following the effective 

date of the change.

(c)(4)(xi) Key Personnel

Change

The departure, removal, or addition of persons who 

are key personnel or are designated to be contacted 

in case of an emergency

Name and position of person who has left, as applicable when

a position is vacated, the name of the person who will assume

the duties of the position on a temporary basis until a

permanent replacement fills the position.

No later than two 

business days after
§ 39.19 PROPOSED 

REQUIREMENT DESCRIPTION CONTENTS OF REPORT TIME TO REPORT

(c)(4)(xii)

Credit Facility 

Funding 

Arrangement 

Change

When a DCO changes a credit facility funding, is 

notified that such arrangement has changed or knows 

or reasonably should have known that the 

arrangement will change, including a change in 

lender, size of the facility, expiration date, or any 

other material changes or conditions.

Notice No later than 1 

business day after

(c)(4)(xiii) Rule Enforcement

When the DCO: (A) initiates a rule enforcement 

action against a clearing member; or

(B) imposes sanctions against a clearing member.

Notice No later than 2 

business days after

(c)(4) (xiv)

Financial 

Condition and

Events

(A) The institution of any legal proceedings

which may have a material adverse financial impact

on the DCO;

(B) Any event, circumstance or situation that is

not otherwise required to be reported under this

section that materially impedes the DCO’s ability to

comply with this part; or

(C) A material adverse change in the financial 

condition of any clearing member that is not 

otherwise required to be reported under this section.

Notice

Immediate notice 

after the DCO

knows or 

reasonably 

should have

known

(c)(4)(xv)

Financial

Statements

Material

Inadequacies

If a DCO discovers or is notified by an independent 

public accountant of the existence of any material 

inadequacy

24 hr: Notice of the material inadequacy; 48 hr: a written

report stating what steps have been and are being taken to

correct the material inadequacy.

24-48 hours after 

notification or 

discovery