2017-20924
[Federal Register Volume 82, Number 188 (Friday, September 29, 2017)]
[Rules and Regulations]
[Pages 45433-45434]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20924]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 38
RIN 3038-AE64
Commission Delegated Authority Provisions for Designated Contract
Markets' System Safeguards Requirements
AGENCY: Commodity Futures Trading Commission.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
``Commission'') is adopting final rules to establish a new delegation
of authority to Commission staff under the Commission's system
safeguards rules to notify each designated contract market (``DCM'') of
its percentage of the total annual trading volume among all DCMs
regulated by the Commission for purposes of whether it is a covered DCM
under the system safeguards rules.
DATES: This rule is effective September 29, 2017.
FOR FURTHER INFORMATION CONTACT: Rachel Berdansky, Deputy Director,
202-418-5429 or [email protected]; David Steinberg, Associate
Director, 202-418-5102 or [email protected]; David Taylor, Associate
Director, 202-418-5488 or [email protected], Division of Market
Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1151 21st Street NW., Washington, DC 20581.
SUPPLEMENTARY INFORMATION:
I. Delegation of Authority--Commission Regulation Sec. 38.1051
Section 38.1051 of the Commission's regulations, 17 CFR 38.1051,
governs the system safeguards requirements for DCMs. Pursuant to Sec.
38.1051(n), DCMs are required to provide the Commission with their
annual total trading volume by January 31 each calendar year. Section
38.1051(n)(2) also requires the Commission to provide each DCM with
their percentage of the combined annual total trading volume among all
DCMs regulated by the Commission by February 28 each calendar year.
This annual Commission notification informs each DCM whether it is a
``covered DCM'' as that term is defined in Sec. 38.1051(h)(1). A
covered DCM is a DCM whose annual trading volume in a given year is
five percent or more of the combined annual trading volume of all DCMs
regulated by the Commission. Covered DCMs are required to comply with
enhanced requirements with respect to the frequency of cybersecurity
testing and the use of independent contractors. The Commission is
amending Sec. 38.1051 by adding paragraph (n)(3) to delegate authority
to the Director of the Division of Market Oversight and designated
staff to notify DCMs of their annual trading volume percentage.
II. Effective Date
As the revisions to the Commission's regulations in this rulemaking
will not cause any party to undertake efforts to comply with the
regulations as revised, the Commission has determined to
[[Page 45434]]
make this rulemaking effective upon publication in the Federal
Register.\1\
---------------------------------------------------------------------------
\1\ 5 U.S.C. 553(d).
---------------------------------------------------------------------------
III. Paperwork Reduction Act
The Commission may not conduct or sponsor, and a respondent is not
required to respond to, a collection of information contained in a
rulemaking unless the information collection displays a currently valid
control number issued by the Office of Management and Budget (``OMB'')
pursuant to the Paperwork Reduction Act.\2\ This rulemaking contains no
collection of information for which the Commission is obligated to
obtain a control number from OMB.
---------------------------------------------------------------------------
\2\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------
List of Subjects in 17 CFR Part 38
Commodity futures, Reporting and recordkeeping requirements.
For the reasons stated in the preamble, the Commodity Futures
Trading Commission amends 17 CFR part 38 as follows:
PART 38--DESIGNATED CONTRACT MARKETS
0
1. The authority citation for part 38 continues to read as follows:
Authority: 7 U.S.C. 1a, 2, 6, 6a, 6c, 6d, 6e, 6f, 6g, 6i, 6j,
6k, 6l, 6m, 6n, 7, 7a-2, 7b, 7b-1, 7b-3, 8, 9, 15, and 21, as
amended by the Dodd-Frank Wall Street Reform and Consumer Protection
Act, Pub. L. 111-203, 124 Stat. 1376.
0
2. In Sec. 38.1051, add paragraph (n)(3) to read as follows:
Sec. 38.1051 General requirements.
* * * * *
(n) * * *
(3) Delegation of authority. The Commission hereby delegates, until
it orders otherwise, to the Director of the Division of Market
Oversight or such other employee or employees as the Director may
designate from time to time, the authority to provide each designated
contract market with its percentage of the total annual trading volume
of all designated contract markets regulated by the Commission, as set
forth in paragraph (n)(2) of this section. The Director of the Division
of Market Oversight may submit to the Commission for its consideration
any matter that has been delegated pursuant to this section. Nothing in
this section prohibits the Commission, at its election, from exercising
the authority delegated in this section.
Issued in Washington, DC, on September 26, 2017, by the
Commission.
Christopher J. Kirkpatrick,
Secretary of the Commission.
Note: The following appendix will not appear in the Code of
Federal Regulations.
Appendix to Commission Delegated Authority Provisions for Designated
Contract Markets' System Safeguards Requirements--Commission Voting
Summary
On this matter, Chairman Giancarlo and Commissioners Bowen,
Quintenz, and Behnam voted in the affirmative. No Commissioner voted
in the negative.
[FR Doc. 2017-20924 Filed 9-28-17; 8:45 am]
BILLING CODE 6351-01-P
Last Updated: September 29, 2017