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  • 8.4.6-FUTURES MARKETS-COMMITMENT OF TRADERS REPORT - COT

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  • Commitment of traders report - COT

     
     
    The CFTC actively promotes market transparency and to this end publishes the Commitment of Traders (COT) reports which clearly show the position of large commercial and non-commercial traders. Positions of 50 contracts or more must be reported to the CFTC. This is of great value to small players in that it allows them to see information that otherwise would be available only to very large operators.

    In the coffee market it is not uncommon for large speculative hedge funds to hold 20%–25% of the open (uncovered) interest, long or short, (see 08.09.03 and 08.09.07) and it is important for producers and exporters to know in which delivery months these funds hold their positions. Because of the speculative nature of such fund positions it is equally important to know their size because if the tonnage of either their long or short position moves to extremes, very fast action could become imminent (liquidation of the longs or buying against the shorts as the case might be).

    The CFTC produces a weekly COT on futures, and a fortnightly COT on futures and options combined - available on the CFTC’s Home Page at www.cftc.gov. The reports provide information on 4 categories of market players: Commercial, SWAP Dealers, Managed Money and Other Reportables.