[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR15.00]

[Page 310-311]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 15_REPORTS_GENERAL PROVISIONS--Table of Contents
 
Sec.  15.00  Definitions of terms used in parts 15 to 21 of this chapter.




Sec.
15.00 Definitions of terms used in parts 15 to 21 of this chapter.
15.01 Persons required to report.
15.02 Reporting forms.
15.03 Reporting levels.
15.04 [Reserved]
15.05 Designation of agent for foreign brokers, customers of a foreign 
          broker and foreign traders.

    Authority: 7 U.S.C. 2, 5, 6a, 6c, 6f, 6g, 6i, 6k, 6m, 6n, 7, 7a, 9, 
12a, 19, and 21, as amended by the Commodity Futures Modernization Act 
of 2000, Appendix E of Pub. L. 106-554, 114 Stat. 2763; 5 U.S.C. 552 and 
552(b).


    As used in parts 15 to 21 of this chapter:
    (a)(1) Foreign broker means any person located outside the United 
States or its territories who carries an account in commodity futures or 
commodity options on any contract market for any other person.
    (2) Foreign trader means any trader (as defined in paragraph (e) of 
this section) who resides or is domiciled outside of the United States, 
its territories or possessions.
    (b) Reportable position means:
    (1) For reports specified in parts 17, 18 and Sec.  19.00(a)(2) and 
(a)(3) of this chapter any open contract position that at the close of 
the market on any business day equals or exceeds the quantity specified 
in Sec.  15.03 of this part in either:
    (i) Any one future of any commodity on any one contract market, 
excluding future contracts against which notices of delivery have been 
stopped by a trader or issued by the clearing organization of a contract 
market; or
    (ii) Long or short put or call options that exercise into the same 
future of any commodity, or long or short put or call options for 
options on physicals that have identical expirations and exercise into 
the same physical, on any one contract market.
    (2) For the purposes of reports specified in Sec.  19.00(a)(1) of 
this chapter, any combined futures and futures-equivalent option open 
contract position as defined in part 150 of this chapter in any one 
month or in all months combined, either net long or net short in any 
commodity on any one contract market, excluding futures positions 
against which notices of delivery have been stopped by a trader or 
issued by the clearing organization of a contract market, which at the 
close of the market on the last business day of the week exceeds the net 
quantity limit in spot, single or in all-months fixed in Sec.  150.2 of 
this chapter for the particular commodity and contract market.
    (c) Special account means any commodity futures or option account in 
which there is a reportable position.
    (d) Cash or Spot, when used in connection with any commodity, refer 
to the actual commodity as distinguished from a futures or option 
contract in such commodity on a contract market.
    (e) Trader means a person who, for his own account or for an account 
which he controls, makes transactions in commodity futures or options, 
or has such transactions made.
    (f) Customer trading program means any system of trading offered, 
sponsored, promoted, managed or in any other way supported by, or 
affiliated with, a futures commission merchant, an introducing broker, a 
commodity trading advisor, a commodity pool operator, or other trader, 
or any of its officers, partners or employees, and which by agreement, 
recommendations, advice or otherwise, directly or indirectly controls 
trading done and positions held by any other person. The term includes, 
but is not limited to, arrangements where a program participant enters 
into an expressed or implied agreement not obtained from other customers 
and makes a minimum deposit in excess of that required of other 
customers for the purpose of receiving specific advice or 
recommendations which are not made available to other customers. The 
term includes any program which is of the character of, or is commonly 
known to the trade as, a managed account, guided account, discretionary 
account, commodity pool or partnership account.
    (g) Guided account program means any customer trading program which 
limits

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trading to the purchase or sale of a particular contract for future 
delivery of a commodity or a particular commodity option that is advised 
or recommended to the participant in the program.
    (h) Discretionary account means a commodity futures or commodity 
option trading account for which buying and/or selling orders can be 
placed or originated, or for which transactions can be effected, under a 
general authorization and without the specific consent of the customer, 
whether the general authorization for such orders or transactions is 
pursuant to a written agreement, power of attorney, or otherwise.
    (i) Managed account program. This term means a customer trading 
program which includes two or more discretionary accounts traded 
pursuant to a common plan, advice or recommendations.
    (j) Customer means ``customer'' (as defined in Sec.  1.3(k)) and 
``option customer'' (as defined in Sec.  1.3(jj)).
    (k) Open contracts means ``open contracts'' as defined in Sec.  
1.3(t) and commodity option positions held by any person on or subject 
to the rules of a contract market which have not expired, been 
exercised, or offset.
    (l) Compatible data processing media. This term means data 
processing media approved by the Commission or its designee. The 
Commission hereby delegates, until the Commission orders other-wise, the 
authority to approve data processing media for data submissions 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 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.

(Approved by the Office of Management and Budget under control numbers 
3038-0007 and 3038-0009)

[41 FR 3206, Jan. 21, 1976, as amended at 44 FR 33846, June 13, 1979; 45 
FR 30429, May 8, 1980; 45 FR 31713, May 14, 1980; 46 FR 54525, Nov. 3, 
1981; 46 FR 59964, Dec. 8, 1981; 46 FR 63036, Dec. 30, 1981; 47 FR 
57012, Dec. 22, 1982; 48 FR 35299, Aug. 3, 1983; 49 FR 46117, Nov. 23, 
1984; 51 FR 4717, Feb. 7, 1986; 52 FR 38922, Oct. 20, 1987; 56 FR 43697, 
Sept. 4, 1991; 62 FR 6113, Feb. 11, 1997; 62 FR 24031, May 2, 1997; 62 
FR 27659, May 20, 1997; 69 FR 76397, Dec. 21, 2004]