Proposed Rules. Reopening of comment period

Agency: Commodity Futures Trading Commission
Action: Reopening of comment period
Citation: FR Doc. 2014-01372 · RIN 3038-AD52

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.

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