114 STAT. 2763A-366 PUBLIC LAW 106-554—APPENDIX E Sec. 252. Application of the Commodity Exchange Act to national securities exchanges and national securities associations that trade security futures. Sec. 253. Notification of investigations and enforcement actions. TITLE III—LEGAL CERTAINTY FOR SWAP AGREEMENTS Sec. 301. Swap agreement. Sec. 302. Amendments to the Securities Act of 1933. Sec. 303. Amendments to the Securities Exchange Act of 1934. Sec. 304. Savings provision. TITLE IV—REGULATORY RESPONSIBILITY FOR BANK PRODUCTS Sec. 401. Short title. Sec. 402. Definitions. Sec. 403. Exclusion of identified banking products commonly offered on or before December 5, 2000. Sec. 404. Exclusion of certain identified banking products offered by banks after December 5, 2000. Sec. 405. Exclusion of certain other identified banking products. Sec. 406. Administration of the predominance test. Sec. 407. Exclusion of covered swap agreements. Sec. 408. Contract enforcement. SEC. 2. PURPOSES. The purposes of this Act are— (1) to reauthorize the appropriation for the Commodity Futures Trading Commission; (2) to streamhne and eUminate unnecessary regulation for the commodity futures exchanges and other entities regulated under the Commodity Exchange Act; (3) to transform the role of the Commodity Futures Trading Commission to oversight of the futures markets; (4) to provide a statutory and regulatory framework for allowing the trading of futures on securities; (5) to clarify the jurisdiction of the Commodity Futures Trading Commission over certain retail foreign exchange transactions and bucket shops that may not be otherwise regulated; (6) to promote innovation for futures and derivatives and to reduce systemic risk by enhancing legal certainty in the markets for certain futures and derivatives transactions; (7) to reduce systemic risk and provide greater stability to markets during times of market disorder by allowing the clearing of trsinsactions in over-the-counter derivatives through appropriately regulated clearing organizations; and (8) to enhance the competitive position of United States financial institutions and financial markets. TITLE I—COMMODITY FUTURES MODERNIZATION SEC. 101. DEFINITIONS. Section la of the Commodity Exchange Act (7 U.S.C. la) is amended— (1) by redesignating paragraphs (1) through (7), (8) through (12), (13) through (15), and (16) as paragraphs (2) through (8), (16) through (20), (22) through (24), and (28), respectively; (2) by inserting before paragraph (2) (as redesignated by paragraph (1)) the following: "(1) ALTERNATIVE TRADING SYSTEM. — The term 'alternative trading system' means an organization, association, or group of persons that—
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