02.03.2023

ION Cyber Incident Delays CFTC Commitments of Traders Report

02.03.2023
Cybersecurity is Top of Mind for FinServ

Staff of the Commodity Futures Trading Commission Divisions of Clearing and Risk, Market Participants, Data, and Market Oversight released the following statement on the cyber-related incident at ION Cleared Derivatives (a subsidiary of ION Markets), a third-party service provider of cleared derivatives order management, order execution, trading, and trade processing:

“This week, CFTC staff alongside fellow regulators, market participants, and impacted parties have worked to understand the issues surrounding the cyber incident and to help ensure the CFTC regulated derivatives markets were not compromised.

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data.  As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved. As a result, the weekly Commitments of Traders report that is produced by CFTC staff will be delayed until all trades can be reported. A report will be published upon receipt and validation of data from those firms.

Source: CFTC

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