CFTC
Updated
What it is
The Commodity Futures Trading Commission is the independent U.S. federal agency that regulates derivatives markets, including futures, options and swaps, to promote market integrity and protect participants from fraud and manipulation. It publishes the weekly Commitments of Traders (COT) report, which breaks down open interest in futures markets (including yen futures) by trader category such as commercial hedgers versus speculators.
Why it matters lately
Michael Selig was sworn in as the 16th CFTC Chairman on December 22, 2025, after Senate confirmation on December 18, 2025. CFTC's COT data showed speculators aggressively buying yen in a record two-week spree of 216,000 contracts, lifting net yen futures positioning to a 14-month high as of the week ending September 15, 2026, amid yen carry-trade unwind pressure around Bank of Japan policy moves.
Asymmetric Analytics view
Inference (AA): CFTC's weekly COT positioning data on yen futures is a direct read on speculative carry-trade stress that AA uses to gauge yen-funded leverage unwind risk.