1. Short title This Act may be cited as the Commodity Futures Trading Commission Research and Development Modernization Act . 2. Modernization of authority of the Commodity Futures Trading Commission to conduct research, development, demonstration, and information programs Section 18 of the Commodity Exchange Act ( 7 U.S.C. 22 ) is amended to read as follows: 18. Research, development, and demonstration of financial technology (a) Authority The Commission shall establish and maintain, as part of its ongoing operations, research, development, demonstration, and information programs that further the purposes and objectives of this Act, including programs that— (1) facilitate the understanding by the Commission of emerging financial, regulatory, and compliance technologies, the potential applications of the technologies to the transactions and markets regulated by the Commission, and associated implications for cybersecurity, data security, and systemic risk; (2) inform the Commission of important technological advances and innovations affecting markets regulated by the Commission; (3) provide an environment where technological advances and innovations may be explored by developers, potential users, and the Commission to evaluate potential benefits to the Commission and the markets regulated by the Commission; (4) identify areas where the Commission should adapt its administration of this Act to facilitate technological advances and innovations that would benefit the markets regulated by the Commission; (5) improve the administration of this Act by the Commission by identifying technological advances and innovations, and developing novel tools that are not generally available from traditional vendors for use by the Commission, or any division or office of the Commission