Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations, 47262-47264 [2019-19438]

Download as PDF jbell on DSK3GLQ082PROD with NOTICES 47262 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices 3:00 p.m. Members of the public who wish to submit written statements in connection with the meeting should submit them by October 1, 2019. ADDRESSES: The meeting will take place in the Conference Center at the CFTC’s headquarters, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. You may submit public comments, identified by ‘‘Global Markets Advisory Committee,’’ by any of the following methods: • CFTC Website: http:// comments.cftc.gov. Follow the instructions for submitting comments through the Comments Online process on the website. • Mail: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street NW, Washington, DC 20581. • Hand Delivery/Courier: Same as Mail, above. Any statements submitted in connection with the committee meeting will be made available to the public, including publication on the CFTC website, http://www.cftc.gov. FOR FURTHER INFORMATION CONTACT: Andre´e Goldsmith, GMAC Designated Federal Officer, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; (202) 418–6624. SUPPLEMENTARY INFORMATION: The meeting will be open to the public with seating on a first-come, first-served basis. Members of the public may also listen to the meeting by telephone by calling a domestic toll-free telephone or international toll or toll-free number to connect to a live, listen-only audio feed. Call-in participants should be prepared to provide their first name, last name, and affiliation. Domestic Toll Free: 1–877–951–7311. International Toll and Toll Free: Will be posted on the CFTC’s website, http:// www.cftc.gov, on the page for the meeting, under Related Links. Pass Code/Pin Code: 2665194. The meeting agenda may change to accommodate other GMAC priorities. For agenda updates, please visit the GMAC committee website at: https:// www.cftc.gov/About/CFTCCommittees/ GlobalMarketsAdvisory/gmac_ meetings.html. After the meeting, a transcript of the meeting will be published through a link on the CFTC’s website at: http:// www.cftc.gov. All written submissions provided to the CFTC in any form will also be published on the CFTC’s website. Persons requiring special accommodations to attend the meeting VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 because of a disability should notify the contact person above. (Authority: 5 U.S.C. App. 2.) Dated: September 4, 2019. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2019–19388 Filed 9–6–19; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations Commodity Futures Trading Commission. ACTION: Notice of 2019 schedule of fees. AGENCY: The Commodity Futures Trading Commission (‘‘CFTC’’ or ‘‘Commission’’) charges fees to designated contract markets and registered futures associations to recover the costs incurred by the Commission in the operation of its program of oversight of self-regulatory organization rule enforcement programs, specifically National Futures Association (‘‘NFA’’), a registered futures association, and the designated contract markets. Fees collected from each self-regulatory organization are deposited in the Treasury of the United States as miscellaneous receipts. The calculation of the fee amounts charged for 2019 by this notice is based upon an average of actual program costs incurred during fiscal year (‘‘FY’’) 2016, FY 2017, and FY 2018. DATES: Each self-regulatory organization is required to remit electronically the applicable fee on or before November 8, 2019. FOR FURTHER INFORMATION CONTACT: Anthony C. Thompson, Executive Director, Commodity Futures Trading Commission; (202) 418–5697; Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. For information on electronic payment, contact Jennifer Fleming; (202) 418–5034; Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: SUMMARY: I. Background Information A. General This notice relates to fees for the Commission’s review of the rule enforcement programs at the registered futures associations 1 and designated 1 National Futures Association is the only registered futures association. PO 00000 Frm 00030 Fmt 4703 Sfmt 4703 contract markets (‘‘DCM’’), each of which is a self-regulatory organization (‘‘SRO’’) regulated by the Commission. The Commission recalculates the fees charged each year to cover the costs of operating this Commission program.2 The fees are set each year based on direct program costs, plus an overhead factor. The Commission calculates actual costs, then calculates an alternate fee taking volume into account, and then charges the lower of the two.3 B. Overhead Rate The fees charged by the Commission to the SROs are designed to recover program costs, including direct labor costs and overhead. The overhead rate is calculated by dividing total Commission-wide overhead direct program labor costs into the total amount of the Commission-wide overhead pool. For this purpose, direct program labor costs are the salary costs of personnel working in all Commission programs. Overhead costs generally consist of the following Commissionwide costs: Indirect personnel costs (leave and benefits), rent, communications, contract services, utilities, equipment, and supplies. This formula has resulted in the following overhead rates for the most recent three years (rounded to the nearest whole percent): 190 percent for FY 2016, and 175 percent for FY 2017, and 182 precent for FY 2018. C. Conduct of SRO Rule Enforcement Reviews Under the formula adopted by the Commission in 1993, the Commission calculates the fee to recover the costs of its rule enforcement reviews and examinations, based on the three-year average of the actual cost of performing such reviews and examinations at each SRO. The cost of operation of the Commission’s SRO oversight program varies from SRO to SRO, according to the size and complexity of each SRO’s program. The three-year averaging computation method is intended to smooth out year-to-year variations in cost. Timing of the Commission’s reviews and examinations may affect costs—a review or examination may span two fiscal years and reviews and examinations are not conducted at each SRO each year. As noted above, adjustments to actual costs may be made to relieve the burden on an SRO with a disproportionately 2 See Section 237 of the Futures Trading Act of 1982, 7 U.S.C. 16a, and 31 U.S.C. 9701. For a broader discussion of the history of Commission fees, see 52 FR 46070, Dec. 4, 1987. 3 58 FR 42643, Aug. 11, 1993, and 17 CFR part 1, app. B. E:\FR\FM\09SEN1.SGM 09SEN1 47263 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices large share of program costs. The Commission’s formula provides for a reduction in the assessed fee if an SRO has a smaller percentage of United States industry contract volume than its percentage of overall Commission oversight program costs. This adjustment reduces the costs so that, as a percentage of total Commission SRO oversight program costs, they are in line with the pro rata percentage for that SRO of United States industry-wide contract volume. The calculation is made as follows: The fee required to be paid to the Commission by each DCM is equal to the lesser of actual costs based on the three-year historical average of costs for that DCM or one-half of average costs incurred by the Commission for each DCM for the most recent three years, plus a pro rata share (based on average trading volume for the most recent three years) of the aggregate of average annual costs of all DCMs for the most recent three years. The formula for calculating the second factor is: 0.5a + 0.5 vt = current fee. In this formula, ‘‘a’’ equals the average annual costs, ‘‘v’’ equals the percentage of total volume across DCMs over the last three years, and ‘‘t’’ equals the average annual costs for all DCMs. NFA has no contracts traded; hence, its fee is based simply on costs for the most recent three fiscal years. This table summarizes the data used in the calculations of the resulting fee for each entity: TABLE 1—SUMMARY OF DATA USED IN FEE CALCULATIONS Actual total costs FY 2016 FY 2017 FY 2018 3-Year average actual costs 3-Year average volume (%) Adjusted volume costs Refund of over payment from FY 2018 2019 Assessed fee 2019 Assessed fee CANTOR ................................... CBOE Futures Ex ..................... CBOT ........................................ CME .......................................... ERIS .......................................... ICE Futures US ......................... MGE .......................................... NASDAQ OMX–PBOT .............. NODAL ...................................... NYMEX/COMEX ....................... North American Derivatives Exchange Inc ............................. OCX-One Chicago, LLC ........... $ 227,059 28,720 372,278 .................... 386,719 14,314 .................... .................... 242,792 $60,045 31,026 96,442 472,157 53,010 199,090 42,226 251,200 100,600 212,798 $56,551 16,033 2,296 235,127 33,170 50,096 438 109,413 33,162 3,397 $38,865.55 91,372.64 42,486.01 359,854.31 28,726.90 211,968.03 18,992.66 120,204.37 44,587.32 152,995.57 0.00 1.44 30.55 42.65 0.01 7.70 0.05 0.73 0.02 16.37 $19,433 54,354 204,602 435,963 14,423 152,203 9,816 64,470 22,396 174,773 $19,433 54,354 42,486 359,854 14,423 152,203 9,816 64,470 22,396 152,996 $(238) (217) (765) (3,744) (211) (1,354) (171) (1,034) (399) (1,688) $19,195 54,137 41,721 356,110 14,212 150,849 9,645 63,436 21,997 151,308 81,758 282 84,666 36,444 6,986 61,276 57,803.18 32,667.15 0.217 0.256 30,206 17,868 30,206 17,868 (347) (165) 29,859 17,703 Subtotal .............................. National Futures Association .... 1,353,922 282,405 1,639,704 660,710 607,946 507,673 1,200,524 483,595.99 .................... .................... 1,200,504 .................... 940,503 483,596 (10,333) (5,240) 930,170 478,356 Total ............................ 1,636,327 2,300,414 1,115,619 1,684,120 .................... .................... 1,424,099 (15,573) 1,408,526 The FY 2019 fees reflect refunds of overpayments that resulted from an error regarding the amount of overhead calculated in the FY 2018 fees. As a result, the overhead factor was reduced 0.06 percent, the FY 2018 fees were recalculated, and credits in the amount of the overpayments were applied to the FY 2019 fees. An example of how the fee is calculated for one exchange, the Chicago Board of Trade, is set forth here: a. Actual three-year average costs = $42,486. b. The alternative computation is: (.5) ($42,486) + (.5) (.305465) ($1,200,524) = $204,602. c. The fee is the lesser of a. or b.; in this case $42,486. d. The refund for overpayment of $765.00 is applied, bringing the fee to $41,721. As noted above, the alternative calculation based on contracts traded is not applicable to NFA because it is not a DCM and has no contracts traded. The Commission’s average annual cost for conducting oversight review of the NFA rule enforcement program during fiscal years 2016 through 2018 was $483,596. The fee to be paid by the NFA for the current fiscal year is $483,596. II. Schedule of Fees Fees for the Commission’s review of the rule enforcement programs at the registered futures associations and DCMs regulated by the Commission are as follows: TABLE 2—SCHEDULE OF FEES jbell on DSK3GLQ082PROD with NOTICES 3-Year average actual costs CANTOR .................................................. CBOE Futures Ex .................................... CBOT ....................................................... CME ......................................................... ERIS ......................................................... ICE Futures US ........................................ MGE ......................................................... NASDAQ OMX–PBOT ............................. NODAL ..................................................... NYMEX/COMEX ...................................... North American Derivatives Exchange Inc ......................................................... VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 3-Year average volume (%) Adjusted volume costs 2019 Assessed fee Refund of over payment from FY 2018 2019 Assessed fee $38,865.55 91,372.64 42,486.01 359,854.31 28,726.90 211,968.03 18,992.66 120,204.37 44,587.32 152,995.57 0.00 1.44 30.55 42.65 0.01 7.70 0.05 0.73 0.02 16.37 $19,433 54,354 204,602 435,963 14,423 152,203 9,816 64,470 22,396 174,773 $19,433 54,354 42,486 359,854 14,423 152,203 9,816 64,470 22,396 152,996 $(238) (217) (765) (3,744) (211) (1,354) (171) (1,034) (399) (1,688) $19,195 54,137 41,721 356,110 14,212 150,849 9,645 63,436 21,997 151,308 57,803.18 0.217 30,206 30,206 (347) 29,859 PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 E:\FR\FM\09SEN1.SGM 09SEN1 47264 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices TABLE 2—SCHEDULE OF FEES—Continued 3-Year average volume (%) 3-Year average actual costs 2019 Assessed fee Refund of over payment from FY 2018 2019 Assessed fee OCX-One Chicago, LLC .......................... 32,667.15 0.256 17,868 17,868 (165) 17,703 Subtotal ............................................. National Futures Association ................... 1,200,524 483,595.99 ........................ ........................ 1,200,504 ........................ ........................ 483,596 (10,333) (5,240) 930,170 478,356 Total ........................................... 1,684,120 ........................ ........................ 1,424,099 (15,573) 1,408,526 III. Payment Method The Debt Collection Improvement Act (DCIA) requires deposits of fees owed to the government by electronic transfer of funds. See 31 U.S.C. 3720. For information about electronic payments, please contact Jennifer Fleming at (202) 418–5034 or jfleming@cftc.gov, or see the CFTC website at http:// www.cftc.gov, specifically, http:// www.cftc.gov/cftc/cftcelectronic payments.htm. Fees collected from each self-regulatory organization shall be deposited in the Treasury of the United States as miscellaneous receipts. See 7 U.S.C. 16a. Issued in Washington, DC, on this 4th day of September, 2019, by the Commission. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2019–19438 Filed 9–6–19; 8:45 am] BILLING CODE 6351–01–P BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2019–0050] Agency Information Collection Activities: Comment Request Bureau of Consumer Financial Protection. ACTION: Notice and request for comment. AGENCY: In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ‘‘Truth in Savings (Regulation DD) 12 CFR 1030.’’ DATES: Written comments are encouraged and must be received on or before November 8, 2019 to be assured of consideration. SUMMARY: jbell on DSK3GLQ082PROD with NOTICES Adjusted volume costs You may submit comments, identified by the title of the information collection, OMB Control Number (see below), and docket number (see above), by any of the following methods: ADDRESSES: VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 • Electronic: Go to http:// www.regulations.gov. Follow the instructions for submitting comments. • Email: PRA_Comments@cfpb.gov. Include Docket No. CFPB–2019–0050 in the subject line of the message. • Mail: Comment Intake, Bureau of Consumer Financial Protection (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552. • Hand Delivery/Courier: Comment Intake, Bureau of Consumer Financial Protection (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552. Please note that comments submitted after the comment period will not be accepted. In general, all comments received will become public records, including any personal information provided. Sensitive personal information, such as account numbers or Social Security numbers, should not be included. FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of this information collection request is available at www.regulations.gov. Requests for additional information should be directed to Darrin King, PRA Officer, at (202) 435–9575 or email: CFPB_PRA@cfpb.gov. If you require this document in an alternative electronic format, please contact CFPB_ Accessibility@cfpb.gov. Please do not submit comments to these email boxes. SUPPLEMENTARY INFORMATION: Title of Collection: Truth in Savings (Regulation DD) 12 CFR 1030. OMB Control Number: 3170–0004. Type of Review: Extension without change of a currently approved collection. Affected Public: Private Sector. Estimated Number of Annual Respondents: 144. Estimated Total Annual Burden Hours: 625,187.1 1 The Bureau shares supervisory authority for Regulation DD with the Federal Reserve Board (12 CFR 1030, OMB No. 7100–0271), the Department of Treasury’s Office of the Comptroller of the Currency (12 CFR 1030, OMB No. 1557–0176), and the Federal Deposit Insurance Corporation (12 CFR 230, OMB No. 3064–0084). The total estimated burden for all agencies is 749,982 hours for a total of 5,457 respondents. PO 00000 Frm 00032 Fmt 4703 Sfmt 9990 Abstract: Consumers rely on the disclosures required by the Truth in Savings Act (TISA) and Regulation DD to facilitate informed decision-making regarding deposit accounts offered at depository institutions. Without this information, consumers would be severely hindered in their ability to assess the true costs and terms of the deposit accounts offered. Federal agencies and private litigants use the records to ascertain whether accurate and complete disclosures of depository accounts have been provided to consumers. This information also provides the primary evidence of law violations in TISA enforcement actions brought by the Bureau. Without the Regulation DD recordkeeping requirement, the Bureau’s ability to enforce TISA would be significantly impaired. This is a routine renewal of an existing information collection. The Bureau is not proposing any policy changed pursuant to this notice. Request For Comments: Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information will have practical utility; (b) The accuracy of the Bureau’s estimate of the burden of the collection of information, including the validity of the methods and the assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; and (d) Ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Dated: September 4, 2019. Darrin A. King, Paperwork Reduction Act Officer, Bureau of Consumer Financial Protection. [FR Doc. 2019–19385 Filed 9–6–19; 8:45 am] BILLING CODE 4810–AM–P E:\FR\FM\09SEN1.SGM 09SEN1

Agencies

[Federal Register Volume 84, Number 174 (Monday, September 9, 2019)]
[Notices]
[Pages 47262-47264]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19438]


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COMMODITY FUTURES TRADING COMMISSION


Fees for Reviews of the Rule Enforcement Programs of Designated 
Contract Markets and Registered Futures Associations

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of 2019 schedule of fees.

-----------------------------------------------------------------------

SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') charges fees to designated contract markets and 
registered futures associations to recover the costs incurred by the 
Commission in the operation of its program of oversight of self-
regulatory organization rule enforcement programs, specifically 
National Futures Association (``NFA''), a registered futures 
association, and the designated contract markets. Fees collected from 
each self-regulatory organization are deposited in the Treasury of the 
United States as miscellaneous receipts. The calculation of the fee 
amounts charged for 2019 by this notice is based upon an average of 
actual program costs incurred during fiscal year (``FY'') 2016, FY 
2017, and FY 2018.

DATES: Each self-regulatory organization is required to remit 
electronically the applicable fee on or before November 8, 2019.

FOR FURTHER INFORMATION CONTACT: Anthony C. Thompson, Executive 
Director, Commodity Futures Trading Commission; (202) 418-5697; Three 
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. For 
information on electronic payment, contact Jennifer Fleming; (202) 418-
5034; Three Lafayette Centre, 1155 21st Street NW, Washington, DC 
20581.

SUPPLEMENTARY INFORMATION:

I. Background Information

A. General

    This notice relates to fees for the Commission's review of the rule 
enforcement programs at the registered futures associations \1\ and 
designated contract markets (``DCM''), each of which is a self-
regulatory organization (``SRO'') regulated by the Commission. The 
Commission recalculates the fees charged each year to cover the costs 
of operating this Commission program.\2\ The fees are set each year 
based on direct program costs, plus an overhead factor. The Commission 
calculates actual costs, then calculates an alternate fee taking volume 
into account, and then charges the lower of the two.\3\
---------------------------------------------------------------------------

    \1\ National Futures Association is the only registered futures 
association.
    \2\ See Section 237 of the Futures Trading Act of 1982, 7 U.S.C. 
16a, and 31 U.S.C. 9701. For a broader discussion of the history of 
Commission fees, see 52 FR 46070, Dec. 4, 1987.
    \3\ 58 FR 42643, Aug. 11, 1993, and 17 CFR part 1, app. B.
---------------------------------------------------------------------------

B. Overhead Rate

    The fees charged by the Commission to the SROs are designed to 
recover program costs, including direct labor costs and overhead. The 
overhead rate is calculated by dividing total Commission-wide overhead 
direct program labor costs into the total amount of the Commission-wide 
overhead pool. For this purpose, direct program labor costs are the 
salary costs of personnel working in all Commission programs. Overhead 
costs generally consist of the following Commission-wide costs: 
Indirect personnel costs (leave and benefits), rent, communications, 
contract services, utilities, equipment, and supplies. This formula has 
resulted in the following overhead rates for the most recent three 
years (rounded to the nearest whole percent): 190 percent for FY 2016, 
and 175 percent for FY 2017, and 182 precent for FY 2018.

C. Conduct of SRO Rule Enforcement Reviews

    Under the formula adopted by the Commission in 1993, the Commission 
calculates the fee to recover the costs of its rule enforcement reviews 
and examinations, based on the three-year average of the actual cost of 
performing such reviews and examinations at each SRO. The cost of 
operation of the Commission's SRO oversight program varies from SRO to 
SRO, according to the size and complexity of each SRO's program. The 
three-year averaging computation method is intended to smooth out year-
to-year variations in cost. Timing of the Commission's reviews and 
examinations may affect costs--a review or examination may span two 
fiscal years and reviews and examinations are not conducted at each SRO 
each year.
    As noted above, adjustments to actual costs may be made to relieve 
the burden on an SRO with a disproportionately

[[Page 47263]]

large share of program costs. The Commission's formula provides for a 
reduction in the assessed fee if an SRO has a smaller percentage of 
United States industry contract volume than its percentage of overall 
Commission oversight program costs. This adjustment reduces the costs 
so that, as a percentage of total Commission SRO oversight program 
costs, they are in line with the pro rata percentage for that SRO of 
United States industry-wide contract volume.
    The calculation is made as follows: The fee required to be paid to 
the Commission by each DCM is equal to the lesser of actual costs based 
on the three-year historical average of costs for that DCM or one-half 
of average costs incurred by the Commission for each DCM for the most 
recent three years, plus a pro rata share (based on average trading 
volume for the most recent three years) of the aggregate of average 
annual costs of all DCMs for the most recent three years.
    The formula for calculating the second factor is: 0.5a + 0.5 vt = 
current fee. In this formula, ``a'' equals the average annual costs, 
``v'' equals the percentage of total volume across DCMs over the last 
three years, and ``t'' equals the average annual costs for all DCMs. 
NFA has no contracts traded; hence, its fee is based simply on costs 
for the most recent three fiscal years. This table summarizes the data 
used in the calculations of the resulting fee for each entity:

                                                    Table 1--Summary of Data Used in Fee Calculations
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                               Actual total costs                                                                Refund of
                                    ---------------------------------------    3-Year       3-Year      Adjusted       2019         over         2019
                                                                              average      average       volume      Assessed     payment      Assessed
                                       FY 2016      FY 2017      FY 2018       actual     volume (%)     costs         fee        from FY        fee
                                                                               costs                                                2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
CANTOR.............................            $      $60,045      $56,551   $38,865.55         0.00      $19,433      $19,433       $(238)      $19,195
CBOE Futures Ex....................      227,059       31,026       16,033    91,372.64         1.44       54,354       54,354        (217)       54,137
CBOT...............................       28,720       96,442        2,296    42,486.01        30.55      204,602       42,486        (765)       41,721
CME................................      372,278      472,157      235,127   359,854.31        42.65      435,963      359,854      (3,744)      356,110
ERIS...............................  ...........       53,010       33,170    28,726.90         0.01       14,423       14,423        (211)       14,212
ICE Futures US.....................      386,719      199,090       50,096   211,968.03         7.70      152,203      152,203      (1,354)      150,849
MGE................................       14,314       42,226          438    18,992.66         0.05        9,816        9,816        (171)        9,645
NASDAQ OMX-PBOT....................  ...........      251,200      109,413   120,204.37         0.73       64,470       64,470      (1,034)       63,436
NODAL..............................  ...........      100,600       33,162    44,587.32         0.02       22,396       22,396        (399)       21,997
NYMEX/COMEX........................      242,792      212,798        3,397   152,995.57        16.37      174,773      152,996      (1,688)      151,308
North American Derivatives Exchange       81,758       84,666        6,986    57,803.18        0.217       30,206       30,206        (347)       29,859
 Inc...............................
OCX-One Chicago, LLC...............          282       36,444       61,276    32,667.15        0.256       17,868       17,868        (165)       17,703
                                    --------------------------------------------------------------------------------------------------------------------
    Subtotal.......................    1,353,922    1,639,704      607,946    1,200,524  ...........    1,200,504      940,503     (10,333)      930,170
National Futures Association.......      282,405      660,710      507,673   483,595.99  ...........  ...........      483,596      (5,240)      478,356
                                    --------------------------------------------------------------------------------------------------------------------
        Total......................    1,636,327    2,300,414    1,115,619    1,684,120  ...........  ...........    1,424,099     (15,573)    1,408,526
--------------------------------------------------------------------------------------------------------------------------------------------------------

    The FY 2019 fees reflect refunds of overpayments that resulted from 
an error regarding the amount of overhead calculated in the FY 2018 
fees. As a result, the overhead factor was reduced 0.06 percent, the FY 
2018 fees were recalculated, and credits in the amount of the 
overpayments were applied to the FY 2019 fees.
    An example of how the fee is calculated for one exchange, the 
Chicago Board of Trade, is set forth here:
    a. Actual three-year average costs = $42,486.
    b. The alternative computation is: (.5) ($42,486) + (.5) (.305465) 
($1,200,524) = $204,602.
    c. The fee is the lesser of a. or b.; in this case $42,486.
    d. The refund for overpayment of $765.00 is applied, bringing the 
fee to $41,721.
    As noted above, the alternative calculation based on contracts 
traded is not applicable to NFA because it is not a DCM and has no 
contracts traded. The Commission's average annual cost for conducting 
oversight review of the NFA rule enforcement program during fiscal 
years 2016 through 2018 was $483,596. The fee to be paid by the NFA for 
the current fiscal year is $483,596.

II. Schedule of Fees

    Fees for the Commission's review of the rule enforcement programs 
at the registered futures associations and DCMs regulated by the 
Commission are as follows:

                                                                Table 2--Schedule of Fees
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                          Refund of over
                                                          3-Year average  3-Year average     Adjusted      2019 Assessed   payment from    2019 Assessed
                                                           actual costs     volume (%)     volume costs         fee           FY 2018           fee
--------------------------------------------------------------------------------------------------------------------------------------------------------
CANTOR..................................................      $38,865.55            0.00         $19,433         $19,433          $(238)         $19,195
CBOE Futures Ex.........................................       91,372.64            1.44          54,354          54,354           (217)          54,137
CBOT....................................................       42,486.01           30.55         204,602          42,486           (765)          41,721
CME.....................................................      359,854.31           42.65         435,963         359,854         (3,744)         356,110
ERIS....................................................       28,726.90            0.01          14,423          14,423           (211)          14,212
ICE Futures US..........................................      211,968.03            7.70         152,203         152,203         (1,354)         150,849
MGE.....................................................       18,992.66            0.05           9,816           9,816           (171)           9,645
NASDAQ OMX-PBOT.........................................      120,204.37            0.73          64,470          64,470         (1,034)          63,436
NODAL...................................................       44,587.32            0.02          22,396          22,396           (399)          21,997
NYMEX/COMEX.............................................      152,995.57           16.37         174,773         152,996         (1,688)         151,308
North American Derivatives Exchange Inc.................       57,803.18           0.217          30,206          30,206           (347)          29,859

[[Page 47264]]

 
OCX-One Chicago, LLC....................................       32,667.15           0.256          17,868          17,868           (165)          17,703
                                                         -----------------------------------------------------------------------------------------------
    Subtotal............................................       1,200,524  ..............       1,200,504  ..............        (10,333)         930,170
National Futures Association............................      483,595.99  ..............  ..............         483,596         (5,240)         478,356
                                                         -----------------------------------------------------------------------------------------------
        Total...........................................       1,684,120  ..............  ..............       1,424,099        (15,573)       1,408,526
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III. Payment Method

    The Debt Collection Improvement Act (DCIA) requires deposits of 
fees owed to the government by electronic transfer of funds. See 31 
U.S.C. 3720. For information about electronic payments, please contact 
Jennifer Fleming at (202) 418-5034 or [email protected], or see the 
CFTC website at http://www.cftc.gov, specifically, http://www.cftc.gov/cftc/cftcelectronicpayments.htm. Fees collected from each self-
regulatory organization shall be deposited in the Treasury of the 
United States as miscellaneous receipts. See 7 U.S.C. 16a.

    Issued in Washington, DC, on this 4th day of September, 2019, by 
the Commission.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-19438 Filed 9-6-19; 8:45 am]
BILLING CODE 6351-01-P