that each swap “shall be reported to a registered swap data repository.” 47 What factors should the Commission consider in applying these provisions to prediction markets listing event contracts as swaps? Are there aspects of event contract swaps that hinder or facilitate their reporting to a swap data repository or the public availability of the relevant transaction and pricing data? To what extent should such reporting and data availability be standardized in order, for example, to facilitate Commission analysis and to detect potential cross-market activity from a risk or manipulation perspective? Are public identifiers (e.g. CUSIP/ISIN/LEI) 48 appropriate for event contracts? How does such reporting and data availability relate to enhanced price discovery? b. CEA section 4c(a)(1) and (2)(A) provide that it is unlawful to enter into a transaction involving a futures contract, option thereon, or swap, if the transaction is a pre-arranged or noncompetitive trade, or a wash sale. 49 What factors should the Commission consider in applying these provisions to prediction markets? Are there aspects of prediction markets that make them more or less susceptible to pre-arranged or noncompetitive trades, or wash sales? c. CEA section 4c(a)(5) provides that it is unlawful to engage, on any CFTC- registered entity, in disruptive trading practices. 50 What factors should the Commission
47 7 U.S.C. 2(a)(13)(G). 48 A CUSIP number is an identifier for financial instruments assigned by the Committee on Uniform Securities Identification Procedures. An International Securities Identification Number (ISIN) is an identifier used globally. A legal entity identifier (LEI) is assigned through the Global Legal Entity Identifier Foundation. 49 7 U.S.C. 6c(a)(1) and (2)(A). See also Regulation 1.38(a), 17 CFR 1.38(a) (competitive execution requirement). 50 7 U.S.C. 6c(a)(5).
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