Page 19 - 期货和衍生品行业监管动态（2025年4月）

期货和衍生品行业监管动态

3. 美国商品期货交易委员会发布关于某些外汇交易的工作人员函（2025 年 4

月 9 日）

美国商品期货交易委员会（CFTC）市场参与者部与市场监管部发布一份解

释函，阐明两部门关于某些外汇交易被认定为《美国商品交易法》定义的互换

（swaps）、外汇远期（foreign exchange forwards）或外汇互换（foreign exchange

swaps）的观点。

该解释函特别指出：

 信函所述的“Window FX Forwards”应被认定为“外汇远期”（foreign

exchange forwards）；

 信函所述的“Package FX Spot Transactions”不应被认定为“外汇互换”

（foreign exchange swaps）或“互换”（swaps）。

CFTC Releases Staff Letter Relating to Certain Foreign Exchange Transactions

(2025/4/9)

The Commodity Futures Trading Commission’s Market Participants Division

and Division of Market Oversight today issued an interpretative letter providing the

divisions’ views on the characterization of certain foreign exchange (FX) transactions
as being swaps, foreign exchange forwards, or foreign exchange swaps, in each case,

as defined in the Commodity Exchange Act.

Specifically, the interpretative letter states:

 Window FX Forwards, as described in the letter, should be considered to be

“foreign exchange forwards;” and

 Package FX Spot Transactions, as described in the letter, should not be

considered to be “foreign exchange swaps” or “swaps.”

https://www.cftc.gov/PressRoom/PressReleases/9064-25

5