Page 37 - 期货和衍生品行业监管动态（2025年12月）

期货和衍生品行业监管动态

监管。

Acting Chairman Pham Announces Pilot Program to Unleash American Energy

Dominance (2025/12/19)

Pilot Program Expected to Lower Energy Costs for U.S. Businesses and Consumers

Commodity Futures Trading Commission Acting Chairman Caroline D. Pham

today announced that the Market Participants Division has established a pilot program

designed to increase liquidity and hedging of risks in connection with Energy

Commodity End User Swaps. The pilot program includes additional reporting

requirements so CFTC staff can conduct enhanced monitoring of trading activity.

“Over the past 13 years, energy markets have seen sharply higher price volatility

due in part to many dealers exiting CFTC markets to avoid punitive Dodd-Frank

costs,” said Acting Chairman Pham. “This has resulted in less liquidity providers and

higher costs per trade, which are passed down to commercial end users like U.S.

energy producers, utilities, and ultimately, consumers. By recalibrating outdated

regulatory requirements in our energy markets, we can restore opportunities to

manage critical business risks involved in powering our cities, factories and homes

across America.

“The CFTC’s new pilot program will expand access to energy markets, increase

the ability to hedge risks and lower costs, which can unlock potentially billions of

dollars of energy savings for U.S. consumers. This is a win for all Americans by

unleashing U.S. energy production through less red tape and cutting costs for the

entire value chain.”

“The Department of Energy supports initiatives that reduce energy prices for

Americans, cut unnecessary red tape, and drive forward the energy needed to achieve

America’s global AI dominance,” Deputy Secretary of Energy James P. Danly said.

“DOE commends the CFTC’s efforts to reduce regulatory barriers and costs and

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