CFTC Extends Time for Compliance with Certain Pre-Trade Screening Requirements on Bunched Orders for Futures (Letter 13-21)

The CFTC Division of Clearing and Risk ("DCR") announced the issuance of an extension of time for compliance in order to provide additional time for market participants to coordinate on the communication of limits for bunched orders for futures. The extension applies to the obligation of futures commission merchants ("FCMs") clearing allocated futures trades to establish risk-based limits for each customer and enter into an agreement with the account manager requiring the account manager to screen orders for compliance with those limits.

This extension of time is intended to provide sufficient time to transition to fully compliant pre-trade screening no later than September 1, 2013.

See: CFTC Letter 13-21.