Timing of the Self-Certification Submission
To self-certify a new product, a DCM must file its submission with the CFTC no later than the close of business on the Commission’s business day preceding the Commission’s business day of the initial listing (or re-listing in the case of dormant contracts) of the product.
Where to File Notification
Self-certification filings must be sent to the CFTC either via mail to its Washington, DC headquarters office and to the CFTC regional office having local jurisdiction or electronically via email to firstname.lastname@example.org.
A product self-certification submission should include:
In making a self-certification submission, a DCM certifies that the product does not violate any provision of the CEA or the CFTC’s regulations and policies adopted thereunder.
Appendix C to Part 38 contains the applicable economic requirements for rules related to the terms and conditions of a contract. Appendix C to Part 38 also provides exchanges with specific criteria for initial and continued compliance with the CEA and the CFTC's regulations and policies for products listed on regulated entities.
The listing of security futures products (SFPs) is subject to additional requirements and procedures.
DCMs may voluntarily request CFTC approval of a new product. The new product may be listed prior to approval if it also is filed with the CFTC under the self-certification procedures described above. Approval requests for contracts filed under self-certification procedures may be submitted concurrently with a self-certification filing or at any time thereafter, including after initial listing of the product. A request for approval must be accompanied with the appropriate approval filing fee.
Summary of the Procedure for Filing Requests for Approval
Voluntary requests for product approval must be sent to the CFTC either via mail to its Washington, DC headquarters office and to the CFTC regional office having local jurisdiction or electronically via email to email@example.com.
A product request for approval filing must include:
The Commission may extend the 45-day review period for an additional 45 days if the product raises novel or complex issues that require additional time for review or is of major economic significance.
Section 5c(c) of the CEA, 7 USC 7a-2(c), requires the CFTC to approve any such new contract unless the CFTC finds that the new product would violate the CEA. In addition, the CEA requires the CFTC to take final action on an approval request no later than 90 days after the filing is received by the CFTC unless the person making the filing agrees to an extension of the review period.
Questions about procedures for product self-certification and approval may be asked by email to firstname.lastname@example.org, fax to 202-418-5527, or telephone to 202-418-5270.