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CFTC | RIN: 3038-AF04 | Publication ID: Fall 2020 |
Title: ●Electronic Trading Risk Principles | |
Abstract:
The Commodity Futures Trading Commission (CFTC or Commission) proposed amendments to regulations set forth in part 38 to address the potential risk of a designated contract market’s (DCM) trading platform experiencing a disruption or system anomaly due to electronic trading. The proposed regulations consist of three principles applicable to DCMs concerning: (i) the implementation of exchange rules applicable to market participants to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading; (ii) the implementation of exchange-based pre-trade risk controls for all electronic orders; and (iii) the prompt notification of the Commission by DCMs of any significant disruptions to their electronic trading platforms. The proposed regulations are accompanied by proposed acceptable practices (Acceptable Practices), which provide that a DCM can comply with these principles by adopting and implementing rules and risk controls that are reasonably designed to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading. |
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Agency: Commodity Futures Trading Commission(CFTC) | Priority: Other Significant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 17 CFR 38 | |
Legal Authority: 7 U.S.C. 6c(a) 7 U.S.C. 7(d) 7 U.S.C. 12(a)(5) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Marilee Dahlman Special Counsel, Division of Market Oversight Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581 Phone:202 418-5264 Email: mdahlman@cftc.gov Joseph Otchin Special Counsel, Division of Market Oversight Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581 Phone:202 418-5623 Email: jotchin@cftc.gov |