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CFTC | RIN: 3038-AB46 | Publication ID: Spring 2000 |
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: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final 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 |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: 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 |