BGC Derivative Markets, L.P 

Rule Implementation Submission 2015-11 

The relevant amendment is appended as Attachment A. Any additions are underlined and 

any deletions are struck through. 

The date of intended implementation of the amendment is ten business days following the 

filing of this submission and will have effect as soon as implemented. 

Attached, please find a certification that: (1) this amendment complies with the 

Commodity Exchange Act ("Act"), and the Commission's regulations thereunder; and (2) 

concurrent with this submission, BGC Derivative Markets, L.P. ("BGCDMLP") posted 

on its website: (i) a notice of pending certification of an amendment with the 

Commission; and (ii) a copy ofthis submission. 

A concise explanation and analysis of the operation, purpose, and effect of the 

amendment appears below. 

There were no opposing views expressed regarding this amendment. 

Confidential treatment is requested. 

CONCISE EXPLANATION AND ANALYSIS OF THE OPERATION, PURPOSE, AND 

EFFECT OF THE CERTIFIED RULE AND ITS COMPLIANCE WITH APPLICABLE 

PROVISIONS OF THE ACT, INCLUDING CORE PRINCIPLES AND THE 

COMMISSION'S REGULATIONS THEREUNDER 

Pursuant to Commission Rule 40.6(a)(7)(vi), the following is a concise explanation and analysis 

of the operation, purpose, and effect of the amended rule. BGCDMLP Rule 307 permits 

BGCDMLP to assess Participants and Brokers fees, charges and assessments. These fees are set 

forth in the "BGCDMLP Fee Schedule" which is available to all Participants and Brokers on 

BGCDMLP. The Fee Schedule has been submitted to the Commodity Futures Trading 

Commission (Commission") as "Exhibit K" of the BGCDMLP Application for Registration as a 

Swap Execution Facility. The terms of the amendment to the a BGCDMLP Fee Schedule is 

appended as Attachment A. The amendment removes a volume discount provision that few, if 

any, Participants currently meet, enabling BGCDMLP to re-evaluate whether this discount 

should be structured differently in the future. The amendment will become effective without 

requiring that any Participant execute any new, or amend any existing, contractual agreement 

with BGCDMLP. 

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BGC reviewed the Core Principles for Swap Execution Facilities under section 5h of the 

Commodity Exchange Act, 7 U.S.C. §1 et seq. ("Act"). Core Principle (I)--Compliance with 

Core Principles and Core Principle 7- Financial Integrity of Transactions are potentially 

applicable to this amendment. The amendment does not impact BGC's ability to perform trade 

practice and market surveillance of its market as required by Core Principle 2. The fee 

amendment does not differentiate among Participants or Brokers nor does it apply differently 

among different classes of Participants or Brokers. 

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CERTIFICATIONS PURSUANT TO SECTION 5c OF THE COMMODITY EXCHANGE 

ACT, 7 U.S. C. §7 A-2 AND COMMODITY FUTURES TRADING COMMISSION RULE 40.6, 

17 C.F.R. §40.6 

I hereby certify that: 

(5) the amended Rule complies with the Commodity Exchange Act, and the 

Commodity Futures Trading Commission's regulations thereunder; and 

(6) concurrent with this submission, BGC Derivative Markets, L.P. posted on its 

website: (a) a notice of pending certification of the above Rule amendment with the 

Commission; and (b) a copy of this submission 

~-e;J By: ~~~ c.A~'-~'j 

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Date: ' ~ \ ~) \ S 

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Attachment 1 

BGC Derivative Markets, LLC Fee Schedule 

Scope and Applicability 

The Fee Schedule applies to all Transactions carried out on BGCDMLP and applies to all 

Participants and Brokers on BGCDMLP. 

Availability 

The Fee Schedule is available to all Participants and Brokers authorized to do business on 

BGCDMLP upon request. 

Modification 

The amendment to the Fee Schedule removes a currently available, but little used, volume 

discount. The amendment shall be effective upon the implementation of the rule amendment and 

Participants will receive any benefit accrued under the discount prior to the time of its 

discontinuance. 

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