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Commodity Futures Trading Commission President's Budget and Performance Plan, Fiscal Year 2013

机译:商品期货交易委员会主席的预算和业绩计划,2013财年

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The CFTC regulates a futures and options industry that increased from 250 million contracts in 2001 to more than 2.5 billion contracts in 2011. The value of customer funds held in Futures Commission Merchants Accounts, during the same period, increased from 56.7 billion to more than 203.7 billion, and the value of these contracts is notionally estimated at 40 trillion. With the passage of the Dodd-Frank Act, the CFTC is tasked with regulating the swaps markets with an estimated notional value of approximately 300 trillion- roughly eight times the size of the regulated futures markets. The Commission made significant progress in implementing its new mandate under the Dodd-Frank Act in FY 2011. During the year, 59 proposed rules were published and 15 rules were finalized; an estimated 45 rules are to be finalized in the upcoming year. The timeline for finalizing the regulatory framework necessary to provide the protections offered by Dodd-Frank has been delayed from the twelve months laid out in the Act. This delay has afforded the Commission the opportunity to more fully engage with industry, the U.S. Securities and Exchange Commission and other federal stakeholders, and the international community in bringing transparency to, and reducing the uncertainty in, the global swaps market. Implementation of the new Dodd-Frank rules began in FY 2011, with the Commission receiving data on cleared swaps. The pace of implementation will accelerate in FY 2012, with provisional and full registration of new entities in the swaps market. And, in FY 2013, the Commission's focus will shift to the full implementation of the swaps market regulation. The budget request presented in this document represents the Commission's best judgment on the scope of final regulation, the span of regulated entities, and the resources required to fulfill the Commission's statutory and regulatory mandate.

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