Industry Oversight
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Listing of New Products for Clearing by a Derivatives Clearing Organization
Products for Which a Derivatives Clearing Organization is Required to File a Submission with the CFTC
A derivatives clearing organization (DCO) that accepts for clearing a product that is traded on a designated contract market (DCM) or derivatives transaction execution facility (DTEF) need not notify the CFTC.
A DCO that accepts for clearing a product that is not traded on a DCM or DTEF must notify the CFTC by filing a self-certification, as described below.
Procedures for Listing a Product for Clearing by a Derivatives Clearing Organization
1. The DCO must file its submission electronically with the Secretary of the CFTC at submissions@cftc.gov and at the regional office having local jurisdiction over the DCO (to determine the correct regional office, consult CFTC Regulation 140.2).
2. The submission must include:
a. A Submission Cover Sheet that must be filled out in accordance with the instructions in Appendix D to Part 40;
b. A copy of the rules establishing the terms and conditions of the listed product that make it acceptable for clearing;
c. The intended listing date; and
d. A certification by the DCO that the product to be listed complies with the Commodity Exchange Act and the regulations thereunder.
Deadline for Listing a Product for Clearing
The CFTC must receive the DCO’s submission at its headquarters by the close of business (4:45 p.m. in Washington, DC) on the business day preceding the day the DCO accepts the product for clearing.
Obtaining Approval of the Clearing of a Product by a Derivatives Clearing Organization
A DCO may request approval of the rules establishing the terms and conditions of the listed product that make it acceptable for clearing. See Requesting Prior Approval of a New DCO Rule or Rule Amendment.