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CFTC

RIN: 3038-AB46

Publication ID: Fall 1999

Title: ●Direct Foreign Order Transmittal
Abstract: Under proposed Rule 30.12, certain unregistered foreign futures and options brokers (FFOBs) would be permitted to accept orders directly from certain sophisticated U.S. foreign futures and options customers for execution through the customer's futures commission merchant's (FCM) customer omnibus account. In addition, proposed Rule 30.12 would permit an unregistered FFOB to directly accept and execute these orders and give up the trades to another unregistered FFOB carrying the FCM's customer omnibus account. The proposed rule would require participating FCMs to satisfy minimum financial requirements and comply with certain procedural safeguards. The permissible means by which foreign orders could be transmitted to an FFOB by the customer are telephone, facsimile, and electronic message.
Agency: Commodity Futures Trading Commission(CFTC)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 17 CFR 30.12
Legal Authority: 7 USC 2 7 USC 6(b), 6c 7 USC 12a

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	08/26/1999	64 FR 46618
NPRM Comment Period End	10/25/1999
Final Action	02/00/2000

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No
Included in the Regulatory Plan: No
Agency Contact: Andrew V. Chapin Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581 Phone:202 418-5465 Email: achapin@cftc.gov