Sec. 102. Electronic confirmation of customer funds
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Section 17 of the Commodity Exchange Act ( 7 U.S.C. 21 ) (as amended by section 101), is amended by adding at the end the following: Each registered futures association shall submit to the Commission rules that require any member of the association that is a futures commission merchant— to use an electronic system or systems to report financial and operational information to the association or another party designated by the registered futures association, including information related to customer segregated funds accounts, foreign futures and foreign options customer secured amount funds accounts, and cleared swaps customer collateral accounts, in accordance with such terms, conditions, documentation standards, and regular time intervals as are established by the registered futures association; to instruct each depository, including any bank, trust company, derivatives clearing organization, or futures commission merchant, holding customer segregated funds under section 1.20 of title 17, Code of Federal Regulations (or successor regulations), foreign futures and foreign options customer secured amount funds under section 30.7 of that title (or successor regulations), or cleared swaps customer collateral under section 22.2 of that title (or successor regulations), to report balances in section 1.20 customer segregated funds accounts, section 30.7 foreign futures and foreign options customer secured amount funds accounts, and section 22.2 cleared swaps customer collateral accounts of the futures commission merchant, to the registered futures association or another party designated by the registered futures association, in the form, manner, and interval prescribed by the registered futures association; and to hold section 1.20 customer segregated funds, section 30.7 foreign futures and foreign options customer secured amount funds and section 22.2 cleared swaps customer collateral in a depository that reports the balances in those accounts of the futures commission merchant held at the depository to the registered futures association or another party designated by the registered futures association in the form, manner, and interval prescribed by the registered futures association. .
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Sec. 102
Electronic confirmation of customer funds
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