Cyber related issues result in delayed CoT data

From NFTRH 744’s Precious Metals segment:

There was no CoT data released last week and now it has been three weeks of no data. Last reading on January 24 implied short-term risk, which was realized. Wondering if CFTC may no longer post this info? Lest gold bugs break out the tin foil hats, the same applies to copper, aluminum, steel, Agricultural and Energy commodities.

Maybe I am the last person on the planet to know this but I just took a look at CFTC and found out why the Commitments of Traders data are not being published.

CFTC Issues Statement on the Ongoing Impact to Reporting

February 10, 2023

Washington, D.C. — Staff of the Commodity Futures Trading Commission Divisions of Clearing and Risk, Market Participants, Data, and Market Oversight today released the following statement to update the public on reporting delays due to the cyber-related incident at ION Cleared Derivatives (a subsidiary of ION Markets), a third-party service provider of cleared derivatives order management, order execution, trading, and trade processing:

“Although the impact of the cyber-related incident at ION has been mitigated, firms that are responsible for reporting are continuing to experience some issues with respect to the submission of timely and accurate data to the CFTC. As a result, the weekly Commitments of Traders report, that is produced by CFTC staff, will continue to be delayed until all trades can be reported. A report will be published upon receipt and validation of data from those firms.

“Further, CFTC staff recognizes there remain impacts to some reporting firms due to the incident at ION. Each affected reporting firm should continue their best efforts to expedite compliance obligations in preparing the daily large trader reports required under Part 17 of the Commission’s regulations, working with CFTC staff, to ensure timely compliance. A reporting firm should also file revised reports once the reporting firm’s systems are operational.  CFTC staff will consider any necessary further action as appropriate.”

Okay, well I am glad it is temporary. CoT are an important vantage point into commodity risk at any given time. A lousy timer, but a good risk/reward indicator.

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