Listing Procedures

Self-Certification Filing Procedures

CFTC Regulation 40.2, 17 CFR 40.2, permits designated contract markets (DCMs) to list products for trading without prior CFTC approval by filing a written self-certification with the CFTC.

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 [email protected].

A product self-certification submission should include:

  • A copy of the submission cover sheet;
  • A statement that the filing is made pursuant to CFTC Regulation 40.2;
  • The text of the product’s rules, including those relating to terms and conditions;
  • A certification that the product or instrument complies with the Commodity Exchange Act (CEA) and CFTC regulations thereunder;
  • A concise explanation and analysis of the product and its compliance with applicable provisions of the Act, including core principles, and the Commission’s regulations thereunder. This explanation and analysis shall either be accompanied by the documentation relied upon to establish the basis for compliance with applicable law, or incorporate information contained in such documentation, with appropriate citations to data sources.
  • A certification that the DCM posted a notice of pending product certification with the Commission on the DCM’s website.

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.

Voluntary Requests for CFTC Approval of Products

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 protected]

A product request for approval filing must include:

  • A copy of the submission cover sheet;
  • The text of the product’s rules, including those relating to terms and conditions;
  • An explanation and analysis of the product and its compliance with applicable provisions of the Act, including core principles, and the Commission’s regulations thereunder, including Guideline No. 1. This explanation and analysis shall either be accompanied by the documentation relied upon to establish the basis for compliance with applicable law, or incorporate information contained in such documentation, with appropriate citations to data sources;
  • A description of any agreements or contracts entered into with other parties that enable the DCM to carry out its responsibilities;
  • A certification that the DCM posted a notice of pending product certification with the Commission on the DCM’s website.