Page 28 - 期货和衍生品行业监管动态（2025年9月）

期货和衍生品行业监管动态

正如撤销通知中所述，《美国商品交易法》第 5c 条以及 CFTC 联邦法规第

38 条、第 40 条中的规定，已经为衍生品合约的上市建立了监管框架，包括自愿

碳信用（VCC）衍生品合约。CFTC 认为，该指导意见引发了对自愿碳信用衍生

品合约的过度关注，这可能会导致在实施 CFTC 现行、完善的上市产品监管框架

时出现混淆和不一致的情况。

CFTC Withdraws Guidance Regarding Listing Voluntary Carbon Credit

Derivative Contracts (2025/9/10)

The Commodity Futures Trading Commission today announced the withdrawal

of its “Guidance Regarding the Listing of Voluntary Carbon Credit Derivative

Contracts.”

As stated in the notice of withdrawal, the Commodity Exchange Act Section 5c,

and CFTC Regulations at Parts 38 and 40, already establish the regulatory framework

for listing derivative contracts, including voluntary carbon credit (VCC) derivative

contracts. The CFTC has determined the guidance resulted in placing a

disproportionate focus on VCC derivative contracts, which could lead to confusion

and inconsistencies in implementing the CFTC’s existing, well-established product

listing regulatory framework.

https://www.cftc.gov/PressRoom/PressReleases/9119-25

8. 美国商品期货交易委员会清算与风险部撤销关于衍生品清算机构恢复与退

出计划的指引（2025 年 9 月 11 日）

美国商品期货交易委员会（CFTC）清算与风险部宣布，立即撤销第 16-61

号文件《衍生品清算机构维护的恢复与退出计划以及衍生品清算机构恢复与有序

退出工具》。

根据撤销函说明，鉴于具有系统重要性的衍生品清算机构以及选择遵守商

14