The CFTC regulates AI in derivatives markets through existing law, not AI-specific rules. Its operative document is Staff Advisory (CFTC Letter No. 24-17) of December 5, 2024, which reminds swap dealers, FCMs, exchanges, and clearinghouses that the Commodity Exchange Act and CFTC regulations — system safeguards, risk management, recordkeeping, customer-fund segregation, and third-party outsourcing responsibility — apply unchanged when AI is used. Under Chairman Michael Selig the 2026 posture is innovation-first: an Innovation Task Force (March 24, 2026) is drafting a regulatory framework for 'artificial intelligence and autonomous systems,' the renamed Innovation Advisory Committee held its first meeting on August 20, 2026 with a session on 'agentic finance,' and an August 19, 2026 request for comment opened the door to listed compute derivatives.
| Full name | Commodity Futures Trading Commission |
| Role | Derivatives market regulator |
| Force on banks | Supervisory guidance |
| Applies to | CFTC registrants and registered entities: bank-affiliated swap dealers and futures commission merchants, designated contract markets, swap execution facilities, derivatives clearing organizations, swap data repositories, CPOs, CTAs, and introducing brokers |
| Key document | CFTC Staff Advisory on the Use of AI in CFTC-Regulated Markets (CFTC Letter No. 24-17, Dec 2024) |
| Latest move | Aug 19, 2026 request for comment on listing compute derivatives; Aug 20, 2026 inaugural Innovation Advisory Committee meeting with an 'agentic finance' session |
| Documents tracked | 8 · all documents → |
For a bank, the CFTC matters through its swap dealer and FCM arms and its use of CFTC-regulated exchanges and clearinghouses. The agency's AI work began under Chairman Rostin Behnam: an AI Task Force formed in late 2023, a staff Request for Comment on AI in CFTC-regulated markets on January 25, 2024 (comments closed April 24, 2024), a Technology Advisory Committee report on Responsible AI on May 2, 2024 recommending a NIST-aligned AI risk management framework, and the December 5, 2024 staff advisory. That advisory created no new obligations; it mapped AI use cases — margin calculation, surveillance, settlement, generative AI in disclosure documents — to the core principles and regulations that already govern them, and warned that a DCO or registrant remains responsible when AI is procured from a third party.
The 2025–2026 agenda shifted from risk-mapping to market-building. Commissioner Kristin Johnson used 2025 speeches to push AI-for-compliance and data governance. Chairman Selig, confirmed in late 2025, renamed the Technology Advisory Committee the Innovation Advisory Committee (January 12, 2026), created an Innovation Task Force led by Michael Passalacqua (March 24, 2026) with AI and autonomous systems as one of three workstreams, and on August 19, 2026 issued a request for comment on derivatives on compute — the GPU capacity that powers AI — framed as essential to 'win the AI race.' No CFTC AI rule has been proposed as of August 2026; the practical standard for bank derivatives desks is still the 2024 advisory plus exam-time questions about AI.
What has the CFTC actually published on AI?
| Date | Document | Status |
|---|---|---|
| Aug 19, 2026 | CFTC Compute Derivatives RFC — Request for Comment on the Listing of Compute Derivatives Contracts | Comment period open |
| Mar 24, 2026 | CFTC Innovation Task Force — Chairman Selig Announces Formation of New Innovation Task Force | In force |
| Jun 18, 2025 | Johnson RegHub Summit Remarks (Jun 2025) — Keynote Remarks of Commissioner Kristin N. Johnson at RegHub Summit London 2025: Enabling AI Tools To Enhance Compliance and Surveillance | Final |
| Dec 5, 2024 | CFTC Staff Advisory 24-17 on AI — Staff Advisory on the Use of Artificial Intelligence in CFTC-Regulated Markets (CFTC Letter No. 24-17) | In force |
| Dec 5, 2024 | Johnson Statement on AI in Derivatives Markets (Dec 2024) — Statement of Commissioner Kristin N. Johnson on Future-Proofing Financial Markets: Assessing the Integration of Artificial Intelligence in Global Derivatives Markets | Final |
| May 2, 2024 | CFTC TAC Responsible AI Report — Responsible Artificial Intelligence in Financial Markets: Opportunities, Risks & Recommendations | Final |
| Jan 25, 2024 | CFTC AI Scams Customer Advisory — Customer Advisory: AI Won't Turn Trading Bots into Money Machines | In force |
| Jan 25, 2024 | CFTC AI Request for Comment (2024) — Request for Comment on the Use of Artificial Intelligence in CFTC-Regulated Markets | Final |
| Date | Type | Document / event |
|---|---|---|
| Aug 20, 2026 | Milestone | Inaugural Innovation Advisory Committee meeting: 'Preparing for Intelligent Markets'. Session II of the first IAC meeting covered AI in trading, compliance, surveillance and risk management, 'the rise of agentic finance' (autonomous agents executing transactions and managing portfolios), how existing regulatory principles apply to AI-enabled market participants, and whether additional guidance is warranted. Written public comments were accepted through August 27, 2026. |
| Aug 19, 2026 | Consultation | CFTC Compute Derivatives RFC — Request for Comment on the Listing of Compute Derivatives Contracts. On August 19, 2026 the CFTC issued a request for comment on derivatives markets in compute — the GPU and data-center capacity that powers AI — published in the Federal Register on August 21, 2026 (91 FR 54259) with a 60-day comment period. source ↗ |
| Mar 24, 2026 | Framework | CFTC Innovation Task Force — Chairman Selig Announces Formation of New Innovation Task Force. On March 24, 2026 CFTC Chairman Michael S. source ↗ |
| Mar 24, 2026 | Milestone | Innovation Task Force formed with an AI and autonomous systems workstream. The task force, led by Michael J. Passalacqua and staffed April 10, 2026, is charged with developing a clear regulatory framework for (i) crypto assets and blockchain, (ii) artificial intelligence and autonomous systems, and (iii) prediction markets and event contracts. |
| Jan 12, 2026 | Milestone | Technology Advisory Committee renamed Innovation Advisory Committee. Chairman Selig relaunched the TAC as the Innovation Advisory Committee to advise on AI, blockchain, and cloud computing, with CEO Innovation Council members as charter members and nominations open through January 31, 2026. |
| Jun 18, 2025 | Speech | Johnson RegHub Summit Remarks (Jun 2025) — Keynote Remarks of Commissioner Kristin N. Johnson at RegHub Summit London 2025: Enabling AI Tools To Enhance Compliance and Surveillance. On June 18, 2025 Commissioner Kristin N. source ↗ |
| Dec 5, 2024 | Guidance | CFTC Staff Advisory 24-17 on AI — Staff Advisory on the Use of Artificial Intelligence in CFTC-Regulated Markets (CFTC Letter No. 24-17). On December 5, 2024 the CFTC's Divisions of Clearing and Risk, Data, Market Oversight, and Market Participants issued CFTC Letter No. source ↗ |
| Dec 5, 2024 | Speech | Johnson Statement on AI in Derivatives Markets (Dec 2024) — Statement of Commissioner Kristin N. Johnson on Future-Proofing Financial Markets: Assessing the Integration of Artificial Intelligence in Global Derivatives Markets. Concurrent with the December 5, 2024 staff advisory, Commissioner Kristin N. source ↗ |
| May 2, 2024 | Report | CFTC TAC Responsible AI Report — Responsible Artificial Intelligence in Financial Markets: Opportunities, Risks & Recommendations. On May 2, 2024 the CFTC's Technology Advisory Committee, sponsored by Commissioner Christy Goldsmith Romero, adopted a report by its Subcommittee on Emerging and Evolving Technologies on responsible AI in financial markets. source ↗ |
| Jan 25, 2024 | Guidance | CFTC AI Scams Customer Advisory — Customer Advisory: AI Won't Turn Trading Bots into Money Machines. On January 25, 2024 the CFTC's Office of Customer Education and Outreach warned that fraudsters exploit interest in artificial intelligence to sell trading bots, signal services, and crypto schemes promising guaranteed returns. source ↗ |
| Jan 25, 2024 | Consultation | CFTC AI Request for Comment (2024) — Request for Comment on the Use of Artificial Intelligence in CFTC-Regulated Markets. On January 25, 2024 CFTC staff — the Divisions of Market Oversight, Clearing and Risk, Market Participants, and Data plus the Office of Technology Innovation — issued a Request for Comment on current and potential uses and risks of AI in derivatives markets, with comments due April 24, 2024. source ↗ |
- Whether the Innovation Task Force's AI and autonomous systems workstream produces staff guidance or a proposed rule on AI-enabled and agentic trading
- Comment deadline (60 days after the August 21, 2026 Federal Register publication) and any exchange listings of compute derivatives contracts
- Follow-through on the August 20, 2026 IAC discussion of 'agentic finance' and whether the CFTC and SEC align AI positions for dually registered bank dealers
Does the CFTC have an AI rule for swap dealers and FCMs?
No. As of August 2026 the CFTC has not proposed an AI-specific rule. The controlling document is the December 5, 2024 staff advisory (CFTC Letter No. 24-17), which states that existing Commodity Exchange Act and CFTC requirements apply to AI use and that the advisory creates no new obligations.
Is a bank's swap dealer responsible for AI it buys from a vendor?
Yes. The 2024 staff advisory says CFTC-regulated entities must comply whether they deploy AI 'directly or by a third-party service provider,' and cites Regulation 39.18(d)(2) as making explicit that a DCO retains responsibility when it outsources. It also expects registered entities to give staff advance notice of material planned changes to automated systems.
What is the CFTC doing about AI in 2026?
Chairman Selig's CFTC has created an Innovation Task Force (March 24, 2026) with a workstream on AI and autonomous systems, held the first Innovation Advisory Committee meeting on August 20, 2026 with a session on agentic finance, and on August 19, 2026 requested comment on listing compute derivatives. The approach is framed as enabling innovation rather than restricting AI use.
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