CFTC Mandates Online Portal Submissions for Form 304 Starting January 2025

The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight has issued a staff advisory notifying cotton traders of a transition in the submission format for regulatory Form 304 filings. Beginning January 15, 2025, all cotton merchants and dealers who hold or control positions for future delivery in cotton and are subject to CFTC Regulation 17 CFR 19.00(a) must submit Form 304 through the agency's dedicated online filings portal. The CFTC confirmed that the portal has been updated to facilitate these submissions. Prior to the effective date, market participants subject to the rule must continue submitting Form 304 via email through January 14, 2025. The regulatory agency stated that migrating covered filings to the online portal is intended to increase reporting efficiency and improve information security and data management. The CFTC added that it will continue enhancing and expanding the portal to assist industry participants and strengthen market oversight.