Federal Register, Volume 79 Issue 16 (Friday, January 24, 2014)[Federal Register Volume 79, Number 16 (Friday, January 24, 2014)]
[Proposed Rules]
[Pages 4104-4105]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-01372]



17 CFR Chapter I

RIN 3038-AD52

Concept Release on Risk Controls and System Safeguards for 
Automated Trading Environments

AGENCY: Commodity Futures Trading Commission.

ACTION: Reopening of comment period.


SUMMARY: On September 12, 2013, the Commodity Futures Trading 
Commission (``Commission'') published in the Federal Register a Concept 
Release on Risk Controls and System Safeguards for Automated Trading 
Environments (``Concept Release''). The Concept Release addresses the 
evolution from human-centered to automated trading environments and 
seeks comment on a series of pre-trade risk controls, post-trade 
measures, system safeguards and other protections applicable to trading 
platforms and other categories of market participants. Its original 
comment period closed on December 11, 2013. For the reasons set forth 
below, the Commission is reopening the comment period for the Concept 
Release beginning on January 21, 2014. Interested parties may submit 
comments on or before February 14, 2014.

DATES: The comment period for the Concept Release published September 
12, 2013 (78 FR 56542) is reopened as of January 21, 2014, and extended 
until February 14, 2014.

ADDRESSES: You may submit comments, identified by RIN 3038-AD52, by any 
of the following methods:
     CFTC Web site, via Comments Online: http://comments.cftc.gov. Follow the instructions for submitting comments 
through the Web site.
     Mail: Melissa D. Jurgens, Secretary of the Commission, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as ``mail,'' above.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.

Please submit comments by only one method. All comments should be 
submitted in English or accompanied by an English translation. Comments 
will be posted as received to http://www.cftc.gov. You should submit 
only information that you wish to make available publicly. If you wish 
the Commission to consider information that may be exempt from 
disclosure under the Freedom of Information Act (``FOIA''), a petition 
for confidential treatment of the exempt information may be submitted 
according to the procedures established in 17 CFR 145.9. The Commission 
reserves the right, but shall have no obligation, to review, prescreen, 
filter, redact, refuse, or remove any or all of your submission from 
http://www.cftc.gov that it may deem to be inappropriate for 
publication, such as obscene language. All submissions that have been 
redacted or removed that contain comments on the merits of the 
rulemaking will be retained in the public comment file and will be 
considered as required under the Administrative Procedure Act and other 
applicable laws, and may be accessible under FOIA.

FOR FURTHER INFORMATION CONTACT: Sebastian Pujol Schott, Associate 
Director, Division of Market Oversight, [email protected] or 202-418-5641; 
Marilee Dahlman, Special Counsel, Division of Market Oversight, 
[email protected] or 202-418-5264.

SUPPLEMENTARY INFORMATION: On September 12, 2013, the Commission 
published in the Federal Register (78 FR 56542) the Concept Release on 
Risk Controls and System Safeguards for Automated Trading Environments. 
The Concept Release provides an overview of the transition from human-
centered to automated trading environments, reviews the Commission's 
regulatory response to date and existing industry practices, and 
describes a series of pre-

[[Page 4105]]

trade risk controls, post-trade measures, system safeguards and other 
protections applicable to trading platforms and other categories of 
market participants. The Commission requests comment on a broad range 
of topics including, among other things, the extent to which certain 
risk controls have been adopted by industry, whether there is a need 
for regulatory action on such risk controls in order to provide more 
uniform risk mitigation across Commission-regulated derivatives 
markets, and the appropriate stage in the lifecycle of an order at 
which risk controls should be placed.
    The Commission is reopening the comment period for the Concept 
Release beginning on January 21, 2014, and ending on February 14, 2014. 
Parties who previously submitted comments on the Concept Release, but 
did so after the original December 11, 2013, comment deadline, are 
invited to resubmit their comments so that they may be properly 
considered. Parties presenting relevant materials during the January 
21, 2014, meeting of the Commission's Technology Advisory Committee are 
invited to submit such materials for inclusion in the comment file. 
Parties may also submit new comments regarding any matter raised in the 
Concept Release. All comments must be received on or before February 
14, 2014.

    Issued in Washington, DC, on January 17, 2014, by the 
Christopher J. Kirkpatrick,
Deputy Secretary of the Commission.

    Note:  The following appendix will not appear in the Code of 
Federal Regulations.

Appendix to Concept Release on Risk Controls and System Safeguards for 
Automated Trading Environments--Commission Voting Summary

    On this matter, Acting Chairman Wetjen and Commissioners Chilton 
and O'Malia voted in the affirmative. No Commissioner voted in the 

[FR Doc. 2014-01372 Filed 1-23-14; 8:45 am]