(b) Contract market rules required. Each contract market must adopt and maintain in effect rules, which have been submitted to the Commission pursuant to section 5a(a)(12)(A) of the Act and Commission Regulation 1.41, that, at a minimum, (1) define the term “broker association” to include the relationships set forth in § 156.1 of this part, (2) prohibit conduct described in paragraph (a) of this section, and (3) require registration of each relationship defined by its rules as a broker association no later than 10 days after establishment of such relationship. Contract market records of registration shall include the following information with respect to each broker association, if applicable:

1. (i) Name;
2. (ii) Form of organization, e.g., partnership, corporation, trust, etc.;
3. (iii) Name of each person who is a member or otherwise has a direct beneficial interest in the association;
4. (iv) Badge symbols and numbers for all members;
5. (v) Account numbers for all accounts of any member, accounts in which any member(s) has an interest, and any proprietary or customer accounts controlled by any member(s);
6. (vi) Identification of all other broker associations with which each member is associated; and

7. (vii) Individual(s) authorized to represent the association in connection with its registration obligations.

   Any registration information provided to the contract market which becomes deficient or inaccurate must be updated or corrected promptly.

(c) Other contract market rules.

1. (1) Each contract market may submit rules pursuant to section 5a(a)(12)(A) of the Act and Commission Regulation 1.41 that interpret when contract market members would be deemed to “regularly share a deck of orders.” In the absence of such rules, a contract market must make such a determination on a case-by-case basis. The basis for a determination whether brokers “regularly share a deck of orders” must be documented.
2. (2) Each contract market may adopt rules, which must be submitted to the Commission pursuant to section 5a(a)(12)(A) of the Act and Commission Regulation 1.41, which set forth the basis and procedures for granting exemptions from the registration requirement contained in paragraph (b) of this section for de minimis activity.