The Division of Market Oversight (DMO) program fosters markets that accurately reflect the forces of supply and demand for the underlying commodities and are free of disruptive activity. To achieve this goal, program staff perform market surveillance; review new exchange applications and examine existing exchanges to ensure their compliance with the applicable core principles; evaluate new products to ensure they are not susceptible to manipulation; review exchange rules and actions to ensure compliance with the CEA and CFTC regulations; and carry out the mandates of the Dodd-Frank Act related to oversight of swaps trading.
|FTE||Salaries and Expenses||IT||Total|
|Registration and Registration Compliance||31||$7,390||$0||$7,390|
|Surveillance, including Data Acquisition and Analytics||71||16,920||0||16,920|
|Economic and Legal Analysis||8||1,910||0||1,910|
Market Oversight Request by Mission Activity
Completed final rulemakings related to the Dodd-Frank Act:
Implemented the Large-Trader Reporting for Physical Commodity Swaps regulation.
Provided no action relief to facilitate smooth transition to the new swap reporting regime.
Completed reviews of 229 new product certifications, 34 product-related certifications, 490 rule filings and 21 foreign stock index certifications.
Market surveillance built working prototypes of new tools aimed at bringing disparate data together and visualizing it, thus reducing the amount of time needed to understand a market event. Multiple new engines were created to detect potential trading violations.
Redesigned CFTC Form 40 (Statement of Reporting Trader), CFTC Form 102 (Identification of Special Accounts), and developed new CFTC Form 71 (Identification of Omnibus Accounts and Sub-Accounts) as part of a proposed rulemaking on OCR and electronic forms.
Completion of remaining Dodd-Frank rulemakings:
Continue review of new SDR registration applications.
Implement swap data reporting to SDRs.
Begin review of new SEF registration applications.
Begin review of foreign board of trade (FBOT) applications.
Implement swap block trade provisions for real-time reporting.
Adopt standards for blocks in futures markets.
Re-propose a rulemaking establishing position limits for futures and swaps.
Continued registration of new applicants: SDRs, SEFs, FBOTs, and DCMs.
Integrate swaps data into surveillance program.
Implement Federal speculative limits for physical commodities.
Start examinations of SEFs and SDRs.
Determinations as to which swaps are subject to mandatory clearing are "made available for trading."
1 On September 28, 2012, the Positions Limits Rule was vacated and remanded to the Commission for further proceedings. (back to text)