Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations, 74025-74027 [2023-23821]
Download as PDF
<![CDATA[
Federal Register / Vol. 88, No. 208 / Monday, October 30, 2023 / Rules and Regulations
Since this action only corrects the
mention of an affected part number, it
has no adverse economic impact and
imposes no additional burden on any
person. Therefore, the FAA has
determined that notice and public
comment procedures are unnecessary.
List of Subjects in 14 CFR Part 39
Air transportation, Aircraft, Aviation
safety, Incorporation by reference,
Safety.
Adoption of the Amendment
Accordingly, pursuant to the
authority delegated to me by the
Administrator, the FAA amends part 39
of the Federal Aviation Regulations (14
CFR part 39) as follows:
PART 39—AIRWORTHINESS
DIRECTIVES
1. The authority citation for part 39
continues to read as follows:
■
Authority: 49 U.S.C. 106(g), 40113, 44701.
§ 39.13
[Corrected]
2. The FAA amends § 39.13 by adding
the following airworthiness directive:
■
2023–20–11 International Aero Engines,
LLC: Amendment 39–22570; Docket No.
FAA–2023–1996; Project Identifier AD–
2022–01361–E.
(a) Effective Date
This airworthiness directive (AD) is
effective November 1, 2023.
(c) Applicability
This AD applies to International Aero
Engines, LLC Model PW1124G1–JM,
PW1127G–JM, PW1127GA–JM, PW1129G–
JM, PW1130G–JM, PW1133G–JM, and
PW1133GA–JM engines with an installed
high-pressure compressor (HPC) rear hub,
part number 30G4008 or 30G8208, with a
serial number (S/N) listed in Table 2 or Table
3 of Pratt & Whitney Service Bulletin
PW1000G–C–72–00–0209–00A–930A–D,
Issue No: 002, dated June 20, 2023
(PW1000G–C–72–00–0209–00A–930A–D,
Issue No: 002).
khammond on DSKJM1Z7X2PROD with RULES
(d) Subject
Joint Aircraft System Component (JASC)
Code 7230, Turbine Engine Compressor
Section.
(e) Unsafe Condition
This AD was prompted by a manufacturer
investigation which revealed that
Maintenance, Repair, and Overhaul shops
were misinterpreting accepted knife edge
coating wear limits. The FAA is issuing this
AD to prevent heat-induced cracking at the
forward and aft knife edge seals and
uncontained separation of the HPC rear hub.
The unsafe condition, if not addressed, could
result in uncontained debris release, damage
15:45 Oct 27, 2023
(f) Compliance
Comply with this AD within the
compliance times specified, unless already
done.
(g) Required Actions
At the next engine shop visit after the
effective date of this AD, replace the HPC
rear hub with a part eligible for installation.
(h) Definitions
(1) For the purpose of this AD, a ‘‘part
eligible for installation’’ is:
(i) Any HPC rear hub with an S/N that does
not appear in Table 2 or Table 3 of
PW1000G–C–72–00–0209–00A–930A–D,
Issue No: 002; or
(ii) Any HPC rear hub that has been
serviced in accordance with Pratt & Whitney
Service Bulletin PW1000G–C–72–00–0209–
00A–930A–D (any revision).
(2) For the purpose of this AD, an ‘‘engine
shop visit’’ is the induction of an engine into
the shop for maintenance involving the
separation of major mating engine flange H.
The separation of engine flanges solely for
the purpose of transportation without
subsequent engine maintenance does not
constitute an engine shop visit.
Jkt 262001
(2) You must use this service information
as applicable to do the actions required by
this AD, unless this AD specifies otherwise.
(i) Pratt & Whitney Service Bulletin
PW1000G–C–72–00–0209–00A–930A–D,
Issue No: 002, dated June 20, 2023.
(ii) [Reserved]
(3) For Pratt & Whitney service information
identified in this AD, contact International
Aero Engines LLC, 400 Main Street, East
Hartford, CT 06118; phone: (860) 565–0140;
email: help24@prattwhitney.com; website:
connect.prattwhitney.com.
(4) You may view this service information
at the FAA, Airworthiness Products Section,
Operational Safety Branch, 1200 District
Avenue, Burlington, MA 01803. For
information on the availability of this
material at the FAA, call (817) 222–5110.
(5) You may view this material at the
National Archives and Records
Administration (NARA). For information on
the availability of this material at NARA,
visit www.archives.gov/federal-register/cfr/
ibr-locations or email: fr.inspection@
nara.gov.
Issued on October 25, 2023.
Caitlin Locke,
Director, Compliance & Airworthiness
Division, Aircraft Certification Service.
[FR Doc. 2023–23929 Filed 10–26–23; 11:15 am]
BILLING CODE 4910–13–P
(i) Credit for Previous Actions
You may take credit for the actions
required by paragraph (g) of this AD if you
performed those actions before the effective
date of this AD using Pratt & Whitney Service
Bulletin PW1000G–C–72–00–0209–00A–
930A–D, Issue No: 001, dated September 13,
2022.
(j) Alternative Methods of Compliance
(AMOCs)
(b) Affected ADs
None.
VerDate Sep<11>2014
to the engine, damage to the airplane, inflight shutdown, and loss of the airplane.
74025
(1) The Manager, AIR–520 Continued
Operational Safety Branch, FAA, has the
authority to approve AMOCs for this AD, if
requested using the procedures found in 14
CFR 39.19. In accordance with 14 CFR 39.19,
send your request to your principal inspector
or local Flight Standards District Office, as
appropriate. If sending information directly
to the manager of the AIR–520 Continued
Operational Safety Branch, send it to the
attention of the person identified in
paragraph (k) of this AD and email to: ANEAD-AMOC@faa.gov.
(2) Before using any approved AMOC,
notify your appropriate principal inspector,
or lacking a principal inspector, the manager
of the local flight standards district office/
certificate holding district office.
(k) Related Information
For more information about this AD,
contact Mark Taylor, Aviation Safety
Engineer, FAA, 2200 South 216th Street, Des
Moines, WA 98198; phone: (781) 238–7229;
email: mark.taylor@faa.gov.
(l) Material Incorporated by Reference
(1) The Director of the Federal Register
approved the incorporation by reference
(IBR) of the service information listed in this
paragraph under 5 U.S.C. 552(a) and 1 CFR
part 51.
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
COMMODITY FUTURES TRADING
COMMISSION
17 CFR Part 1
Fees for Reviews of the Rule
Enforcement Programs of Designated
Contract Markets and Registered
Futures Associations
Commodity Futures Trading
Commission.
ACTION: Notification of 2022 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 the
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 2022 by
this document is based upon an average
of actual program costs incurred during
fiscal year (‘‘FY’’) 2019, FY 2020, and
FY 2021.
DATES: Each self-regulatory organization
is required to electronically remit the
SUMMARY:
E:\FR\FM\30OCR1.SGM
30OCR1
74026
Federal Register / Vol. 88, No. 208 / Monday, October 30, 2023 / Rules and Regulations
applicable fee on or before December 29,
2023.
FOR FURTHER INFORMATION CONTACT: Joel
Mattingley, Chief Financial Officer,
Commodity Futures Trading
Commission; (202) 418–5310,
jmattingley@cftc.gov. For information
on electronic payments, contact
accounting@cftc.gov.
SUPPLEMENTARY INFORMATION:
I. Background Information
A. General
This document 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 annually 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): 174 percent for FY 2019, 158
percent for FY 2020, and 173 percent for
FY 2021.
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
Actual total costs
khammond on DSKJM1Z7X2PROD with RULES
FY 2019
CX Futures Exchange,
L.P ............................
CBOE Futures Exchange, LLC .............
Chicago Board of Trade
Chicago Mercantile Exchange, Inc ...............
Eris Exchange, LLC .....
ICE Futures U.S., LLC
Intercontinental Exchange, Inc ...............
Minneapolis Grain Exchange, LLC .............
Nasdaq OMX Futures
Exchange, Inc ...........
Nodal Exchange, LLC ..
North American Derivatives Exchange, Inc ..
OneChicago, LLC Futures Exchange ........
FY 2020
15:45 Oct 27, 2023
FY 2021
3-Year total
volume
%
Adjusted
volume costs
2022
Assessed fee
$0
$22,702
$0
$7,567
0.030
$3,901
$3,901
40,517
22,835
23,325
56,041
13,418
47,253
25,753
42,043
1.119
33.578
17,217
151,253
17,217
42,043
383,995
0
73,464
260,723
0
193,300
433,468
0
166,180
359,395
0
144,315
43.862
0.001
6.577
349,812
3
97,666
349,812
0
97,666
0
0
0
0
0.000
0
0
39,525
0
28,780
22,768
0.053
11,590
11,590
1,741
2,312
0
0
0
0
580
771
0.099
0.099
675
770
580
770
135,159
2,598
15,849
51,202
0.204
26,392
26,392
0
0
0
0
0.077
298
0
1 The National Futures Association is the only
registered futures association.
VerDate Sep<11>2014
3-Year
average actual
costs
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.
Since NFA has no contracts traded, 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:
Jkt 262001
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.
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
3 58 FR 42643, Aug. 11, 1993, and 17 CFR part
1, app. B.
E:\FR\FM\30OCR1.SGM
30OCR1
Federal Register / Vol. 88, No. 208 / Monday, October 30, 2023 / Rules and Regulations
Actual total costs
FY 2019
FY 2020
3-Year
average actual
costs
FY 2021
3-Year total
volume
%
Adjusted
volume costs
74027
2022
Assessed fee
New York Mercantile
Exchange/Commodity
Exchange, Inc ...........
LedgerX 1 .....................
Kalshiex, LLC ...............
Coinbase ......................
Small Exchange, LLC ..
45,425
0
0
0
0
99,311
0
0
0
0
88,701
130,428
0
0
0
77,812
43,476
0
0
0
14.238
0.035
0.024
0.001
0.003
94,126
21,872
94
3
12
77,812
21,872
0
0
0
Subtotal .................
744,973
658,001
924,078
775,684
100.00
775,684
649,656
National Futures Association .......................
540,821
567,719
723,031
610,524
........................
........................
610,524
Total ......................
1,285,794
1,225,720
1,647,109
1,386,208
100.00
775,684
1,260,180
Columns may not add due to rounding.
1 LedgerX formerly known as FTX US Derivatives.
c. The fee is the lesser of a or b; in this
case $42,043
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 =
$42,043
b. The alternative computation is: [(.5)
($42,043)] + (.5) [(.3357849)
($775,684)] = $151,253
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 reviews of the
NFA rule enforcement program during
3-Year
average actual
costs
fiscal years 2019 through 2021 was
$610,524. The fee to be paid by the NFA
for the current fiscal year is $610,524.
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:
3-Year total
volume
%
Adjusted
volume costs
2022
Assessed fee
CX Futures Exchange, L.P ..............................................................................
CBOE Futures Exchange, LLC .......................................................................
Chicago Board of Trade ..................................................................................
Chicago Mercantile Exchange, Inc ..................................................................
Eris Exchange, LLC .........................................................................................
ICE Futures U.S., LLC .....................................................................................
Intercontinental Exchange, Inc ........................................................................
Minneapolis Grain Exchange, LLC ..................................................................
Nasdaq OMX Futures Exchange, Inc ..............................................................
Nodal Exchange, LLC ......................................................................................
North American Derivatives Exchange, Inc .....................................................
OneChicago, LLC Futures Exchange ..............................................................
New York Mercantile Exchange/Commodity Exchange, Inc ...........................
LedgerX 1 .........................................................................................................
Kalshiex, LLC ...................................................................................................
Coinbase ..........................................................................................................
Small Exchange, LLC ......................................................................................
$7,567
25,753
42,043
359,395
0
144,315
0
22,768
580
771
51,202
0
77,812
43,476
0
0
0
0.030
1.119
33.578
43.862
0.001
6.577
0.000
0.053
0.099
0.099
0.204
0.077
14.238
0.035
0.024
0.001
0.003
$3,901
17,217
151,253
349,812
3
97,666
0
11,590
675
770
26,392
298
94,126
21,872
94
3
12
$3,901
17,217
42,043
349,812
0
97,666
0
11,590
580
770
26,392
0
77,812
21,872
0
0
0
Subtotal .....................................................................................................
775,684
100.00
775,684
649,656
National Futures Association ...........................................................................
610,524
........................
........................
610,524
Total ..........................................................................................................
1,386,208
100.00
775,684
1,260,180
Columns may not add due to rounding.
1 LedgerX formerly known as FTX US Derivatives.
khammond on DSKJM1Z7X2PROD with RULES
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. All payments
should be made via the government
payment website https://www.pay.gov/
public/form/start/105542374/. Credit
card payments are only acceptable for
VerDate Sep<11>2014
15:45 Oct 27, 2023
Jkt 262001
amounts less than or equal to $24,999.
All payments equal to or above $25,000
must be made by electronic funds
transfer.
Fees collected from each SRO shall be
deposited in the Treasury of the United
States as miscellaneous receipts. See 7
U.S.C. 16a.
PO 00000
Frm 00009
Fmt 4700
Sfmt 4700
Issued in Washington, DC, on this 24th day
of October, 2023, by the Commission.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023–23821 Filed 10–27–23; 8:45 am]
BILLING CODE 6351–01–P
E:\FR\FM\30OCR1.SGM
30OCR1
]]>Agencies
[Federal Register Volume 88, Number 208 (Monday, October 30, 2023)]
[Rules and Regulations]
[Pages 74025-74027]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-23821]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 1
Fees for Reviews of the Rule Enforcement Programs of Designated
Contract Markets and Registered Futures Associations
AGENCY: Commodity Futures Trading Commission.
ACTION: Notification of 2022 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 the
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 2022 by this document is based upon an average of
actual program costs incurred during fiscal year (``FY'') 2019, FY
2020, and FY 2021.
DATES: Each self-regulatory organization is required to electronically
remit the
[[Page 74026]]
applicable fee on or before December 29, 2023.
FOR FURTHER INFORMATION CONTACT: Joel Mattingley, Chief Financial
Officer, Commodity Futures Trading Commission; (202) 418-5310,
[email protected]. For information on electronic payments, contact
[email protected].
SUPPLEMENTARY INFORMATION:
I. Background Information
A. General
This document 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 annually
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\ The 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): 174 percent for FY 2019,
158 percent for FY 2020, and 173 percent for FY 2021.
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 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.
Since NFA has no contracts traded, 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:
--------------------------------------------------------------------------------------------------------------------------------------------------------
Actual total costs
------------------------------------------------ 3-Year average 3-Year total Adjusted 2022 Assessed
FY 2019 FY 2020 FY 2021 actual costs volume % volume costs fee
--------------------------------------------------------------------------------------------------------------------------------------------------------
CX Futures Exchange, L.P................ $0 $22,702 $0 $7,567 0.030 $3,901 $3,901
CBOE Futures Exchange, LLC.............. 40,517 23,325 13,418 25,753 1.119 17,217 17,217
Chicago Board of Trade.................. 22,835 56,041 47,253 42,043 33.578 151,253 42,043
Chicago Mercantile Exchange, Inc........ 383,995 260,723 433,468 359,395 43.862 349,812 349,812
Eris Exchange, LLC...................... 0 0 0 0 0.001 3 0
ICE Futures U.S., LLC................... 73,464 193,300 166,180 144,315 6.577 97,666 97,666
Intercontinental Exchange, Inc.......... 0 0 0 0 0.000 0 0
Minneapolis Grain Exchange, LLC......... 39,525 0 28,780 22,768 0.053 11,590 11,590
Nasdaq OMX Futures Exchange, Inc........ 1,741 0 0 580 0.099 675 580
Nodal Exchange, LLC..................... 2,312 0 0 771 0.099 770 770
North American Derivatives Exchange, Inc 135,159 2,598 15,849 51,202 0.204 26,392 26,392
OneChicago, LLC Futures Exchange........ 0 0 0 0 0.077 298 0
[[Page 74027]]
New York Mercantile Exchange/Commodity 45,425 99,311 88,701 77,812 14.238 94,126 77,812
Exchange, Inc..........................
LedgerX \1\............................. 0 0 130,428 43,476 0.035 21,872 21,872
Kalshiex, LLC........................... 0 0 0 0 0.024 94 0
Coinbase................................ 0 0 0 0 0.001 3 0
Small Exchange, LLC..................... 0 0 0 0 0.003 12 0
---------------------------------------------------------------------------------------------------------------
Subtotal............................ 744,973 658,001 924,078 775,684 100.00 775,684 649,656
---------------------------------------------------------------------------------------------------------------
National Futures Association............ 540,821 567,719 723,031 610,524 .............. .............. 610,524
---------------------------------------------------------------------------------------------------------------
Total............................... 1,285,794 1,225,720 1,647,109 1,386,208 100.00 775,684 1,260,180
--------------------------------------------------------------------------------------------------------------------------------------------------------
Columns may not add due to rounding.
\1\ LedgerX formerly known as FTX US Derivatives.
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 = $42,043
b. The alternative computation is: [(.5) ($42,043)] + (.5) [(.3357849)
($775,684)] = $151,253
c. The fee is the lesser of a or b; in this case $42,043
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 reviews of the NFA rule enforcement program during fiscal
years 2019 through 2021 was $610,524. The fee to be paid by the NFA for
the current fiscal year is $610,524.
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:
----------------------------------------------------------------------------------------------------------------
3-Year average 3-Year total Adjusted 2022 Assessed
actual costs volume % volume costs fee
----------------------------------------------------------------------------------------------------------------
CX Futures Exchange, L.P........................ $7,567 0.030 $3,901 $3,901
CBOE Futures Exchange, LLC...................... 25,753 1.119 17,217 17,217
Chicago Board of Trade.......................... 42,043 33.578 151,253 42,043
Chicago Mercantile Exchange, Inc................ 359,395 43.862 349,812 349,812
Eris Exchange, LLC.............................. 0 0.001 3 0
ICE Futures U.S., LLC........................... 144,315 6.577 97,666 97,666
Intercontinental Exchange, Inc.................. 0 0.000 0 0
Minneapolis Grain Exchange, LLC................. 22,768 0.053 11,590 11,590
Nasdaq OMX Futures Exchange, Inc................ 580 0.099 675 580
Nodal Exchange, LLC............................. 771 0.099 770 770
North American Derivatives Exchange, Inc........ 51,202 0.204 26,392 26,392
OneChicago, LLC Futures Exchange................ 0 0.077 298 0
New York Mercantile Exchange/Commodity Exchange, 77,812 14.238 94,126 77,812
Inc............................................
LedgerX \1\..................................... 43,476 0.035 21,872 21,872
Kalshiex, LLC................................... 0 0.024 94 0
Coinbase........................................ 0 0.001 3 0
Small Exchange, LLC............................. 0 0.003 12 0
---------------------------------------------------------------
Subtotal.................................... 775,684 100.00 775,684 649,656
---------------------------------------------------------------
National Futures Association.................... 610,524 .............. .............. 610,524
---------------------------------------------------------------
Total....................................... 1,386,208 100.00 775,684 1,260,180
----------------------------------------------------------------------------------------------------------------
Columns may not add due to rounding.
\1\ LedgerX formerly known as FTX US Derivatives.
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. All payments should be made via the government payment
website https://www.pay.gov/public/form/start/105542374/. Credit card
payments are only acceptable for amounts less than or equal to $24,999.
All payments equal to or above $25,000 must be made by electronic funds
transfer.
Fees collected from each SRO 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 24th day of October, 2023, by
the Commission.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023-23821 Filed 10-27-23; 8:45 am]
BILLING CODE 6351-01-P
