Designated contract markets (DCMs) may implement new rules or rule amendments or list new products by filing with the CFTC a certification that the amended rule complies with the Commodity Exchange Act (CEA) and CFTC regulations and policies and/or requesting approval.
Procedures for Listing Products
A designated contract market may list new products for trading by filing with the CFTC the contract’s terms and conditions and a certification that the contract complies with the CEA and CFTC regulations and policies.
For dormant contracts, as defined by CFTC Regulation 40.1(b), 17 CFR 40.1(b), a designated contract market may reactivate trading in such contract by filing a certification that the contract complies with the CEA and CFTC regulations and policies. A self-certification filing must be received at the CFTC’s Washington, DC headquarters no later than the close of business on the Commission’s business day preceding the Commission’s business day on which the new rule or rule amendment is to be implemented or before the product is listed for trading.
Procedures for New Rules and Rule Amendments
Rule Certification: A designated contract market may implement most new rules and rule amendments by filing with the CFTC a certification that the amended rule complies with the CEA and CFTC regulations and policies under the provisions of CFTC Regulation 40.6. Self-certification of new rules and rule amendments that materially change the terms and conditions of contracts based on enumerated agricultural commodities having open interest is not permitted.
Rule Approval: DCMs may request CFTC approval of new rules and rule amendments under the provisions of CFTC Regulation 40.5. A DCM may also request approval of its futures or option products under the provisions of CFTC Regulation 40.3. Product approval requests may be submitted concurrently with the filing of a contract under self-certification procedures or any time later.
The requirements for approval of a product are contained in Appendix C to Part 38. Appendix C to Part 38 provides exchanges with specific information regarding initial and continued compliance with the Commodity Exchange Act and the CFTC's regulations and policies for listing contracts.
Requests for contract approval must be accompanied by a nonrefundable filing fee based on actual costs to the CFTC for processing contract approval requests.