This bill updates section 18 of the Commodity Exchange Act to modernize the Commodity Futures Trading Commission's (CFTC) authority to run research, development, demonstration, and information programs. The programs must study emerging technologies and how they could affect transactions and markets the CFTC oversees, including issues for cybersecurity, data security, and systemic risk. The CFTC may adopt research and development plans that identify topics, activities, and how it will use special contracting authority. The Commission may use "other transaction" authority in support of these plans, subject to conditions and written policies. The CFTC may accept certain non monetary contributions (like data, access, or services) to support R&D, with limits and a sunset date of October 1, 2031. The bill requires the CFTC to notify congressional agriculture committees within 14 days when it agrees to accept a covered non monetary contribution and to send an annual report within 60 days after each fiscal year describing transactions, contributions, project status, and sums expended.
If you are a producer, market participant, technology developer, or a member of the public, the CFTC is directed to study new technologies and publish education and information about regulated markets and innovations. The Commission may engage with developers and users to evaluate technologies. The bill does not itself change trading rules or set new trading requirements; it changes how the CFTC may research and test technologies and how it may accept non monetary support for that work.
The bill does not set or authorize specific new appropriations. It requires the CFTC to report the sums it spent on transactions under the special authority and, if readily ascertainable, the value of any accepted non monetary contributions. No publicly available information in the bill text provides overall cost estimates or funding sources.
The bill's sponsors introduced it to modernize the CFTC's ability to understand and evaluate emerging technologies, facilitate testing with developers and users, adapt commission administration as needed, and provide educational materials about regulated markets and new technologies.
No publicly available information.