CONFORMING AMENDMENTS.

SEC. 13203. CONFORMING AMENDMENTS.(a) Section 1a(12)(A)(x) of the Commodity Exchange Act (7 U.S.C. 1a(12)(A)(x)) is amended by inserting “(other than an electronic trading facility with respect to a significant price discovery contract)” after “registered entity”.(b) Section 1a(29) of such Act (7 U.S.C. 1a(29)) is amended—(1) in subparagraph (C), by striking “and” at the end;(2) in subparagraph (D), by striking the period and inserting “; and”; and(3) by adding at the end the following:“(E) with respect to a contract that the Commission determines is a significant price discovery contract, any electronic trading facility on which the contract is executed or traded.”.(c) Section 2(a)(1)(A) of such Act (7 U.S.C. 2(a)(1)(A)) is amended by inserting after “future delivery” the following: “(including significant price discovery contracts)”.(d) Section 2(h)(3) of such Act (7 U.S.C. 2(h)(3)) is amended by striking “paragraph (4)” and inserting “paragraphs (4) and (7)”.(e) Section 2(h)(4) of such Act (7 U.S.C. 2(h)(4)) is amended—(1) in subparagraph (B), by inserting “and, for a significant price discovery contract, requiring large trader reporting,” after “proscribing fraud”;(2) by striking “and” at the end of subparagraph (C); and(3) by striking subparagraph (D) and inserting the following:“(D) such rules, regulations, and orders as the Commission may issue to ensure timely compliance with any of the provisions of this Act applicable to a significant price discovery contract traded on or executed on any electronic trading facility; and“(E) such other provisions of this Act as are applicable by their terms to significant price discovery contracts or to registered entities or electronic trading facilities with respect to significant price discovery contracts.”.(f) Section 2(h)(5)(B)(iii)(I) of such Act (7 U.S.C. 2(h)(5)(B)(iii)(I)) is amended by inserting “or to make the determination described in subparagraph (B) of paragraph (7)” after “paragraph (4)”.(g) Section 4a of such Act (7 U.S.C. 6a) is amended—122 STAT. 1440(1) in subsection (a)—(A) in the first sentence, by inserting “, or on electronic trading facilities with respect to a significant price discovery contract” after “derivatives transaction execution facilities”; and(B) in the second sentence, by inserting “, or on an electronic trading facility with respect to a significant price discovery contract,” after “derivatives transaction execution facility”; and(2) in subsection (b)—(A) in paragraph (1), by inserting “or electronic trading facility with respect to a significant price discovery contract” after “facility or facilities”; and(B) in paragraph (2), by inserting “or electronic trading facility with respect to a significant price discovery contract” after “derivatives transaction execution facility”; and(3) in subsection (e)—(A) in the first sentence—(i) by inserting “or by any electronic trading facility” after “registered by the Commission”;(ii) by inserting “or on an electronic trading facility” after “derivatives transaction execution facility” the second place it appears; and(iii) by inserting “or electronic trading facility” before “or such board of trade” each place it appears; and(B) in the second sentence, by inserting “or electronic trading facility with respect to a significant price discovery contract” after “registered by the Commission”.(h) Section 5a(d) of such Act (7 U.S.C. 7a(d)(1)) is amended—(1) by redesignating paragraphs (4) through (9) as paragraphs (5) through (10); and(2) by inserting after paragraph (3) the following:“(4) Position limitations or accountability.—To reduce the potential threat of market manipulation or congestion, especially during trading in the delivery month, the derivatives transaction execution facility shall adopt position limits or position accountability for speculators, where necessary and appropriate for a contract, agreement or transaction with an underlying commodity that has a physically deliverable supply.”.(i) Section 5c(a) of such Act (7 U.S.C. 7a–2(a)) is amended in paragraph (1) by inserting “, and section 2(h)(7) with respect to significant price discovery contracts,” after “, and 5b(d)(2)”.(j) Section 5c(b) of such Act (7 U.S.C. 7a–2(b)) is amended—(1) by striking paragraph (1) and inserting the following:“(1) In general.—A contract market, derivatives transaction execution facility, or electronic trading facility with respect to a significant price discovery contract may comply with any applicable core principle through delegation of any relevant function to a registered futures association or a registered entity that is not an electronic trading facility.”;(2) in paragraph (2), by striking “contract market or derivatives transaction execution facility” and inserting “contract market, derivatives transaction execution facility, or electronic trading facility”; and(3) in paragraph (3), by striking “contract market or derivatives transaction execution facility” each place it appears and 122 STAT. 1441 inserting “contract market, derivatives transaction execution facility, or electronic trading facility”.(k) Section 5c(d)(1) of such Act (7 U.S.C. 7a–2(d)(1)) is amended by inserting “or 2(h)(7)(C) with respect to a significant price discovery contract traded or executed on an electronic trading facility,” after “5b(d)(2)”.(l) Section 5e of such Act (7 U.S.C. 7b) is amended by inserting “, or revocation of the right of an electronic trading facility to rely on the exemption set forth in section 2(h)(3) with respect to a significant price discovery contract,” after “revocation of designation as a registered entity”.(m) Section 6(b) of the Commodity Exchange Act (7 U.S.C. 8(b)) is amended by striking the first sentence and all that follows through “hearing on the record: Provided,” and inserting the following: “The Commission is authorized to suspend for a period not to exceed 6 months or to revoke the designation or registration of any contract market or derivatives transaction execution facility, or to revoke the right of an electronic trading facility to rely on the exemption set forth in section 2(h)(3) with respect to a significant price discovery contract, on a showing that the contract market or derivatives transaction execution facility is not enforcing or has not enforced its rules of government, made a condition of its designation or registration as set forth in sections 5 through 5b or section 5f, or that the contract market or derivatives transaction execution facility or electronic trading facility, or any director, officer, agent, or employee thereof, otherwise is violating or has violated any of the provisions of this Act or any of the rules, regulations, or orders of the Commission thereunder. Such suspension or revocation shall only be made after a notice to the officers of the contract market or derivatives transaction execution facility or electronic trading facility affected and upon a hearing on the record: Provided,”.(n) Section 22(b)(1) of such Act (7 U.S.C. 25(b)(1)) is amended by inserting “section 2(h)(7) or” before “sections 5”.