[Title 17 CFR 17]
[Code of Federal Regulations (annual edition) - April 1, 2003 Edition]
[Title 17 - COMMODITY AND SECURITIES EXCHANGES]
[Chapter I - COMMODITY FUTURES TRADING COMMISSION]
[Part 17 - REPORTS BY FUTURES COMMISSION MERCHANTS, MEMBERS OF CONTRACT MARKETS AND FOREIGN BROKERS]
[From the U.S. Government Printing Office]
17COMMODITY AND SECURITIES EXCHANGES12003-04-012003-04-01falseREPORTS BY FUTURES COMMISSION MERCHANTS, MEMBERS OF CONTRACT MARKETS AND FOREIGN BROKERS17PART 17COMMODITY AND SECURITIES EXCHANGESCOMMODITY FUTURES TRADING COMMISSION
PART 17--REPORTS BY FUTURES COMMISSION MERCHANTS, MEMBERS OF CONTRACT MARKETS AND FOREIGN BROKERS--Table of Contents
Sec.
17.00 Information to be furnished by futures commission merchants,
clearing members and foreign brokers.
17.01 Special account designation and identification.
17.02 Place and time of filing reports.
17.03 Delegation of authority to the Director of the Division of Market
Oversight and to the Executive Director.
17.04 Reporting omnibus accounts to the carrying futures commission
merchant or foreign broker.
Authority: 7 U.S.C. 6a, 6c, 6d, 6f, 6g, 6i, 7, and 12a, unless
otherwise noted.
Sec. 17.00 Information to be furnished by futures commission merchants, clearing members and foreign brokers.
(a) Special Accounts--Reportable futures and options positions,
delivery notices and exchanges of futures for cash. Each futures
commission merchant, clearing member and foreign broker shall submit a
report to the Commission for each business day with respect to all
special accounts carried by the futures commission merchant, clearing
member or foreign broker, except for accounts carried on the books of
another futures commission merchant on a fully-disclosed basis. Except
as otherwise authorized by the Commission or its designee, such report
shall be made on compatible data processing media in accordance with the
format and coding provisions set forth in paragraph (g) of this section.
The report shall show each futures position, separately for each
contract market and for each future, and each put and call options
position separately for each contract market, expiration and strike
price in each special account as of the close of market on the day
covered by the report and, in addition, the quantity of exchanges of
futures for physicals and the number of delivery notices issued for each
such account by the clearing organization of a contract market and the
number stopped by the account.
(2) A report covering the first day upon which a special account is
no longer reportable shall also be filed showing the information
specified in paragraph (a)(1) of this section.
(b) Interest in or control of several accounts. Except as otherwise
instructed by the Commission or its designee and as specifically
provided in Sec. 150.4 of this chapter, if any person holds or has a
financial interest in or controls more than one account, all such
accounts shall be considered by the futures commission merchant,
clearing member or foreign broker as a single account for the purpose of
determining special account status and for reporting purposes. For
purposes of this section, the following shall apply:
(1) Accounts of eligible entities--Accounts of eligible entities as
defined in
[[Page 307]]
Section 150.1 of the Chapter that are traded by an independent account
controller shall, together with other accounts traded by the independent
account controller or in which the independent controller has a
financial interest, be considered a single account.
(2) Accounts Controlled by Two or More Persons--Accounts that are
subject to day-to-day trading control by two or more persons shall,
together with other accounts subject to control by exactly the same
persons, be considered a single account.
(3) Account ownership. Multiple accounts owned by a trader shall be
considered a single account as provided under Secs. 150.4(b), (c) and
(d) of this chapter.
(d) Net positions. Futures commission merchants, clearing members
and foreign brokers shall report positions net long or short in each
future of a commodity and each strike price of a put or call option for
each expiration month in all special accounts, except as specified in
paragraph (e) of this section.
(e) Gross positions. In the following cases, the futures commission
merchant, clearing member or foreign broker shall report gross long and
short positions in each future of a commodity and each strike price of a
put or call option for each expiration month in all special accounts:
(1) Positions which are reported to an exchange or the clearinghouse
of an exchange on a gross basis, which the exchange uses for calculating
total open interest in a commodity;
(2) Positions in accounts owned or held jointly with another person
or persons;
(3) Positions in multiple accounts subject to trading control by the
same trader; and
(4) Positions in omnibus accounts.
(f) If the total open long positions or the total open short
positions for any future of a commodity carried in an omnibus account is
a reportable position, the omnibus account is in Special Account status
and shall be reported by the futures commission merchant or foreign
broker carrying the account in accordance with paragraph (a) of this
section.
(g) Media and file characteristics. (1) Except as otherwise approved
by the Commission or its designee, all required records shall be
submitted together in a single file. Each record will be 80 characters
long. The specific record format is shown in the table below:
Record Layout
----------------------------------------------------------------------------------------------------------------
Beginning column Length Type \1\ Name
----------------------------------------------------------------------------------------------------------------
1........................................ 2 AN Report Type.
3........................................ 3 AN Reporting Firm.
6........................................ 2 Reserved.
8........................................ 12 AN Account Number.
20....................................... 8 AN Report Date.
28....................................... 2 AN Exchange Code.
30....................................... 1 AN Put or Call.
31....................................... 5 AN Commodity Code (1).
36....................................... 8 AN Expiration Date (1).
44....................................... 7 S Strike Price.
51....................................... 1 AN Exercise Style.
52....................................... 7 N Long--Buy--Stopped.
59....................................... 7 N Short--Sell--Issued.
66....................................... 5 AN Commodity Code (2).
71....................................... 8 AN Expiration Date (2).
79....................................... 2 ..................... Reserved.
80....................................... 1 AN Record Type.
----------------------------------------------------------------------------------------------------------------
\1\ AN--Alpha--numeric, N--Numeric, S--Signed numeric.
(2) Field definitions are as follows:
(i) Report type. This report format will be used to report three
types of data: long and short futures and options positions, futures
delivery notices issued and stopped, and exchanges of futures for
physicals bought and sold. Valid values for the report type are ``RP''
for reporting positions, ``DN'' for reporting notices, and ``EP'' for
reporting exchanges of futures for physicals.
(ii) Reporting firm. The clearing member number assigned by an
exchange or clearing house to identify reporting firms. If a firm is not
a clearing member, a three-character alpha-numeric identifier assigned
by the Commission.
(iii) Account number. A unique identifier assigned by the reporting
firm to each special account. The field is zero filled with account
number right-justified. Assignment of the account number is subject to
the provisions of Secs. 17.00 (b) and (c) and 17.01(a).
(iv) Report Date. The format is YYYYMMDD, where YYYY is the year, MM
is the month, and DD is the day of the month.
(v) Exchange. This is a two-character field used to identify the
exchange on
[[Page 308]]
which a position is held. Valid values are as follows:
01 Chicago Board of Trade
02 Chicago Mercantile Exchange
03 MidAmerica Commodity Exchange
06 Coffee, Sugar and Cocoa Exchange
07 Comex Division of NYMEX
08 Kansas City Board of Trade
09 Minneapolis Grain Exchange
10 Philadelphia Board of Trade
12 New York Mercantile Exchange
13 New York Cotton Exchange
15 New York Futures Exchange
(vi) Valid values for this field are ``C'' for a call option and
``P'' for a put option. For futures, the field is blank.
(vii) Commodity (1). An exchange-assigned commodity code for the
futures or options contract.
(viii) Expiration date (1). The date format is YYYYMMDD and
represents the expiration date or delivery date of the reported futures
or options contract. For date-specific instruments such as flexible
products, the full date must be reported. For other options and futures,
this field is used to report the expiration year and month for an
options contract or a delivery year and month for a futures contract.
The day portion of the field for these contracts contains spaces.
(ix) Strike price. This is a signed numeric field for reporting
options strike prices. The strike prices should be right-justified and
the field zero-filled. Strike prices must be reported in the same
formats that are used by an exchange. For futures, the field is left
blank.
(x) Exercise style. Valid values for this field are ``A'' for
American style options, i.e., those that can be exercised at any time
during the life of the options; and ``E'' for European, i.e., those that
can be exercised only at the end of an option's life. This field is
required only for flexible instruments or as otherwise specified by the
Commission.
(xi) Long-Buy-Stopped (Short-Sell-Issued). When report type is
``RP'', report long (short) positions open at the end of a trading day.
When report is ``DN'', report delivery notices stopped (issued) on
behalf of the account. When report type is ``EP'', report purchases
(sales) of futures for cash for the account. Report all information in
contracts. Position data are reported on a net or gross basis in
accordance with paragraphs (e) and (d) of this section.
(xii) Commodity (2). The exchange assigned commodity code for a
futures contract or other instrument that a position is exercised into
from a date-specific or flexible option.
(xiii) Expiration date (2). Similar to other dates, the format is
YYYYMMDD and represents the expiration date or delivery month and year
of the future or other instrument that a position is exercised into from
a date-specific or flexible option.
(xiv) Record type (1). Record type is used to correct errors or
delete records that have previously been submitted. Valid values are
``A'', ``C'', ``D'' or ``blank''. An A or ``blank'' is used in this
field for all new records. If the record corrects information for a
previously provided record, this field must contain a ``C'' or ``blank''
and the record must contain all information on the previously
transmitted record. If the record deletes information on a previously
provided record, this field must contain a ``D'' and all information on
the previously transmitted record.
(h) Correction of errors and omissions. Corrections to errors and
omissions in data provided pursuant to Sec. 17.00(a) shall be filed on
series '01 forms or on computer printouts using a format and coding
structure approved by the Commission or its designee.
(Approved by the Office of Management and Budget under control number
3038-0009)
[41 FR 3207, Jan. 21, 1976, as amended at 44 FR 25434, May 1, 1979; 46
FR 18530, Mar. 25, 1981; 46 FR 54528, Nov. 3, 1981; 46 FR 59965, Dec. 8,
1981; 46 FR 63036, Dec. 30, 1981; 48 FR 52702, Nov. 22, 1983; 49 FR
46117, Nov. 23, 1984; 51 FR 4718, Feb. 7, 1986; 58 FR 33330, June 17,
1993; 62 FR 24032, May 2, 1997; 64 FR 24046, May 5, 1999]
Sec. 17.01 Special account designation and identification.
When a special account is reported for the first time, the FCM,
clearing member, or foreign broker shall identify the account to the
Commission or to the contract market on form 102 showing the information
in paragraphs (a) through (f) of this section.
[[Page 309]]
(a) Special account designator. A unique identifier for the account.
Provided, that the same designator is assigned for option and futures
reporting, and the identifier is not changed or assigned to another
account without prior approval of the Commission or its designee.
(b) Special account identification. The name, address, business
phone, and for individuals, the person's job title and employer for the
following:
(1) The person originating the account, if the special account is a
house omnibus or customer omnibus account; or
(2) The person (i.e., individual, corporation, partnership, etc.)
who owns the special account, if such person (or an employee or officer)
also controls the trading of the special account. And, in addition:
(i) The registration status of the person as a commodity trading
advisor or a securities investment advisor;
(ii) The legal organization of the person and the person's principal
business or occupation;
(iii) Account numbers and account names included in the special
account, if different than supplied in paragraph (b)(2) of this section;
(iv) The name and location of all persons not identified in
paragraph (b)(2) of this section having a ten percent or more financial
interest in the special account, indicating those having discretionary
trading over the account; and
(v) For special accounts with five or fewer persons having trading
authority, the names and locations of all persons with trading authority
that have not been identified in paragraphs (b)(2) or (b)(2)(iv) of this
section; or
(3) The account controller, if trading of the special account is
controlled by a person or legal entity who is an independent account
controller for the account owners as defined in Sec. 150.1(e). And, in
addition:
(i) The registration status of the person as a commodity trading
advisor or a securities investment advisor;
(ii) [Reserved]
(iii) If fewer than ten accounts are under control of the
independent advisor, for each account the account number and the name
and location of each person having a ten percent or more financial
interest in the account; and
(iv) On call by the Commission or its designee, for each account
controlled by the independent advisor, the account number and account
name and the name and location of each person having a ten percent or
more financial interest in the account.
(c) [Reserved]
(d) Commercial use. For futures or options, commodities in which
positions or transactions in the account are associated with a
commercial activity of the account owner in a related cash commodity or
activity (i.e., those considered as hedging, risk-reducing, or otherwise
off-setting with respect to the cash commodity or activity).
(e) Account executive. The name and business telephone number of the
associated person of the FCM who has solicited and is responsible for
the account or, in the case of an introduced account, the name and
business telephone number of the introducing broker who introduced the
account.
(f) Reporting firm. The name and address of the FCM clearing member,
or foreign broker carrying the account, the signature, title, and
business phone of the authorized representative of the firm filing the
report, and the date of signing the form 102.
(g) Form 102 updates. If, at the time an account is in special
account status and a form 102 filed by an FCM, clearing member, or
foreign broker is then no longer accurate because there has been a
change in the information required under paragraph (b) of this section
since the previous filing, the FCM, clearing member, or foreign broker
shall file an updated form 102 with the Commission or the contract
market, as appropriate, within three business days after such change
occurs.
[61 FR 6312, Feb. 20, 1996, as amended at 65 FR 14458, Mar. 17, 2000]
Sec. 17.02 Place and time of filing reports.
Unless otherwise instructed by the Commission or its designee, the
reports required to be filed by FCMs, clearing members, and foreign
brokers under Secs. 17.00 and 17.01 shall be filed at the nearest
appropriate Commission office as specified in paragraphs (a), (b), and
(c) of this section, wherein the times
[[Page 310]]
stated are eastern times for information concerning markets located in
that time zone, and central time for information concerning all other
markets.
(a) For data submitted on compatible data processing media:
(1) At the Chicago Regional Office for dial-up data transmission or
magnetic tape; and at the Chicago, New York or Kansas City Regional
Office for magnetic diskettes.
(2) Not later than 9 a.m. on the business day following that to
which the information pertains.
(b) For data submitted in hard-copy form pursuant to Secs. 17.00
(a), or (h) at a Commission office by facsimile or as otherwise
specified in accordance with instructions by the Commission or its
designee. Data in hard-copy form required under Sec. 17.00(a) shall be
submitted no later than 9 a.m. on the business day following that to
which the information pertains.
(c) For data submitted pursuant to Sec. 17.01 on the form 102;
(1) on call by the Commission or its designee, the type of special
account specified in 1(a), 1(b), or 1(c) of form 102, and the name and
location of the person to be identified in 1(d) on the form 102 by
facsimile or telephone on the same day that the special account in
question is first reported to the Commission; and
(2) a completed form 102 within three business days of the first day
that the special account in question is reported to the Commission.
(Approved by the Office of Management and Budget under control number
3038-0009)
[51 FR 4719, Feb. 7, 1986, as amended at 61 FR 6313, Feb. 20, 1996; 62
FR 24033, May 2, 1997]
Sec. 17.03 Delegation of authority to the Director of the Division of Market Oversight and to the Executive Director.
The Commission hereby delegates, until the Commission orders
otherwise, the authority set forth in paragraphs (a) and (b) of this
section to the Director of the Division of Market Oversight and the
authority set forth in paragraph (c) of this section to the Executive
Director to be exercised by such Director or by such other employee or
employees of such Director as designated from time to time by the
Director. The Director of the Division of Market Oversight or the
Executive Director may submit to the Commission for its consideration
any matter which has been delegated in this paragraph. Nothing in this
paragraph prohibits the Commission, at its election, from exercising the
authority delegated in this paragraph.
(a) Pursuant to Sec. 17.00 (a) and (h), the authority to determine
whether futures commission merchants, clearing members and foreign
brokers can report the information required under Rule 17.00(a) and Rule
17.00(h) on series '01 forms or updated Commission supplied computer
printouts upon a determination by the Director that such person
technologically is unable to provide such information on compatible data
processing media.
(b) Pursuant to Sec. 17.02, the authority to instruct and/or to
approve the time and Commission office at which the information required
under Rules 17.00 and 17.01 must be submitted by futures commission
merchants, clearing members and foreign brokers provided that such
persons are unable to meet the requirements set forth in Sec. 17.01; and
(c) Pursuant to Sec. 17.00(a), the authority to approve a format and
coding structure other than that set forth in Sec. 17.00(g).
[62 FR 24034, May 2, 1997, as amended at 67 FR 62352, Oct. 7, 2002]
Sec. 17.04 Reporting omnibus accounts to the carrying futures commission merchant or foreign broker.
(a) Any futures commission merchant, clearing member or foreign
broker who establishes an omnibus account with another futures
commission merchant or foreign broker shall report to that futures
commission merchant or foreign broker the total open long positions and
the total open short positions in each future of a commodity and, for
commodity options transactions, the total open long put options, the
total open short put options, the total open long call options, and the
total open short call options for each commodity options expiration date
and each strike price in such account at the close of trading each day.
[[Page 311]]
The information required by this section shall be reported in sufficient
time to enable the futures commission merchant or foreign broker with
whom the omnibus account is established to comply with part 17 of these
regulations and reporting requirements established by the contract
markets.
(b) In determining open long and open short futures positions, and
open purchased long and open granted short option positions, in an
omnibus account for purposes of complying with Secs. 17.00(f), 1.37(b)
and 1.58 of this chapter, a futures commission merchant, clearing member
or foreign broker shall total the open long positions of all traders and
the open short positions of all traders in each future of a commodity
and, for commodity options transactions, shall total the open long put
options, the open short put options, the open long call options, and the
open short call options of all traders for each commodity option
expiration date and each strike price. The futures commission merchant,
clearing member or foreign broker shall, if both open long and short
positions in the same future are carried for the same trader, compute
open long or open short futures positions as instructed below.
(1) Include both the total open long and the total open short
positions of the trader if:
(i) The positions represent transactions on a contract market which
requires long and short positions in the same future held in accounts
for the same trader to be recorded and reported on a gross basis; or
(ii) The account is an omnibus account of another futures commission
merchant or foreign broker; or
(2) Include only the net long or net short positions of the trader
if the positions represent transactions on a contract market which does
not require long and short positions in the same future held in accounts
for the same trader to be recorded and reported on a gross basis.
(Approved by the Office of Management and Budget under control number
3038-0009)
[46 FR 63036, Dec. 30, 1981, and 47 FR 21028, May 17, 1982, as amended
at 62 FR 24034, May 2, 1997]