WEEKLY SUMMARY OF THE CFTC REPORT: "Disaggregated Commitments of Traders - Options and Futures Combined"

The following table is the new "WEEKLY SUMMARY OF THE DISAGGREGATED CFTC REPORT."  The new CFTC report was FIRST ISSUED ON SEPTEMBER 4, 2009. 

The CFTC's explanation of the new report ( Click here to see the CFTC Disaggregated Explanatory Notes  ) says the new report increases transparency from past COT reports by separating the reportable (large account) traders into four categories. (See descriptions in the right column.)

CFTC reportable trader classifications  
New Disaggregated Report  
Other Reportables (Non Commercial Large Trader)
Commodity Index Trader
Other Reportables (Non Commercial Non Index Large Trader)
Producer-Merchant-Processor- User
Swap Dealers
Money Managers
Other Reportables (Non Commercial Non Swap Non Money Managed Large Trader)

Content of the Disaggregated Commitments of Traders Report

Producer/Merchant/Processor/User. A “producer/merchant/processor/user” is an entity that predominantly engages in the production, processing, packing or handling of a physical commodity and uses the futures markets to manage or hedge risks associated with those activities.

Swap Dealer. A swap dealer” is an entity that deals primarily in swaps for a commodity and uses the futures markets to manage or hedge the risk associated with those swaps transactions. The swap dealer’s counterparties may be speculative traders, like hedge funds, or traditional commercial clients that are managing risk arising from their dealings in the physical commodity.

Money Manager. A money manager,” for the purpose of this report, is a registered commodity trading advisor (CTA); a registered commodity pool operator (CPO); or an unregistered fund identified by CFTC. These traders are engaged in managing and conducting organized futures trading on behalf of clients. (An unregistered fund may have a Part 4 exclusion from CTA/CPO registration or be a non-U.S. entity that is unregistered. So called “hedge funds” are included in this category, regardless of whether they are registered.) 

Other Reportables. Every other reportable trader that is not placed into one of the other three categories is placed into the other reportables” category.


For more details of the report, click on the following links to the CFTC web pages.