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Appendix 2 – Analysis of New Responsibilities and Authorities on 2013 Budgetary Requirements (continued)

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Analysis of Designated Contract Markets

In FY 2013, the Commission will enforce rules and requirements that standardized OTC derivatives contracts be executed on regulated trading platforms. The new requirements are intended to facilitate a transparent, liquid, and competitive marketplace with trades occurring on regulated exchanges.

In implementing the new requirements, the CFTC will be required to:

The Commission projects it will regulate 21 DCMs in FY 2013.

Projected Designated Contract Markets (DCMs)
  1. Board of Trade of the City of Chicago, Inc.
  2. Cantor Futures Exchange, L.P.
  3. CBOE Futures Exchange, LLC
  4. Chicago Climate Futures Exchange, LLC
  5. Chicago Mercantile Exchange, Inc.
  6. Commodity Exchange, Inc.
  7. ELX Futures, L.P.
  8. Green Exchange, LLC
  9. ICE Futures US, Inc. (was NYBOT)
  10. Kansas City Board of Trade
  11. Minneapolis Grain Exchange, Inc.
  12. NASDAQ OMX Futures Exchange, Inc. (was PBOT)
  13. New York Mercantile Exchange, Inc.
  14. North American Derivatives Exchange, Inc. (was HedgeStreet, Inc.)
  15. NYSE Liffe US, LLC
  16. OneChicago LLC Futures Exchange
  17. The Trend Exchange, Inc.
  18. [Eris Exchange, LLC – currently has DCM application pending]

Inventory and Status of New Rules Impacting Projected Registrants
Rules Under Development Status
Agricultural Swaps (ANPR) Still Under Commission Consideration
Governance & Possible Limits - Section 726 Still Under Commission Consideration
Agricultural Commodity Definitions (OGC)
Position reports for physical commodity swaps Still under Commission consideration
Anti-Manipulation (ENF)
Disruptive Trading Practices (ANPR) (ENF)
Rule Certification Completed
Swap Data Recordkeeping and Reporting Completed
Real Time Reporting Still under Commission consideration
DCM Core Principles and other requirements Still under Commission consideration
Position Limits for Exempt and Agricultural Commodities Still under Commission consideration
Disruptive Trading Practices Interp. Order (ENF)
Conforming Rules – Revising Part 1 Comment period still open
Product Definitions (Joint with SEC) (OGC)
Testing and Supervision (DRT and algorithms) (ENF)
Governance & Possible Limits – Core Principles Implementation – Final Rule Still under Commission consideration

Technology for DCMs

IT Category

IT Requirement1
New Mission Authorities Swaps Position & Transaction Standards/Data Loading
Swaps Position & Transaction Surveillance
Position Limit Monitoring Online Participant Portal
Electronic Forms (102, 40, etc.)
Dodd-Frank Participant Registration (SEF, SDR, etc.)
Enterprise Case Management (Market Surveillance & Enforcement)
Order Message Standards and Loading
Current Mission Authorities Large Trader Reporting, Trade Practice Compliance, Filings & Actions
New Alerts and Alerts Using Intraday Data
Data Standardization, Data Loading, Data Analysis - e.g., Order Data, Large Trader, Time & Sales
Automate Secure File Transfer Sign-Up
Reporting Usability Enhancements
Swaps Transparency Reporting

1 The listing of technology requirements is not limited to registrants but support other activities Commission-wide. (back to text)


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