For Release: June 7, 1999
Commodity Futures Trading Commission Provides
Guidance to Commission Registrants Regarding Contingency Planning for
Washington, D.C. The Commission, on June 7, 1999, issued
an advisory to provide certain Commission registrants (i.e.,
futures commission merchants, introducing brokers, commodity pool
operators and commodity trading advisors) with guidance concerning their
need to make appropriate plans to address business continuity issues that
may arise during the transition to the new millennium. Toward that end,
the advisory sets out important issues that should be considered when
constructing such a plan.
The Commission recognizes that these plans will be subject to ongoing modification, as appropriate, leading up to the millennium change and that each plan will vary in form and content to reflect the unique circumstances of a particular registrant. Nonetheless, beginning on September 1, 1999, each such registrant must have a plan that can be made available to the Commission or the registrant's designated self-regulatory organization upon request.
The advisory is posted on the Commission's home page (www.cftc.gov). Copies of the advisory may be obtained by contacting the Office of Secretariat, Three Lafayette Center, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100.