The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) has issued the results of a rule enforcement review at the Chicago Board of Trade, Chicago Mercantile Exchange, Commodity Exchange, Inc. and New York Mercantile Exchange, Inc. that recommends the exchanges reviewed make certain improvements as noted below.
The Division reviewed the Chicago Board of Trade (CBOT), the Chicago Mercantile Exchange (CME), the Commodity Exchange, Inc. (COMEX), and the New York Mercantile Exchange, Inc. (NYMEX). The review, which covered a one-year target period, evaluated the exchanges’ compliance with Core Principle 13 (Disciplinary Procedures) and the related regulations.
The Division found that the exchanges maintain experienced enforcement staff and a generally adequate disciplinary program to demonstrate compliance with Core Principle 13 and CFTC regulations 38.700-709 and 38.711.
However, the Division made three recommendations to improve documentation under CFTC regulations 38.710 and 38.712. The Division also made one recommendation regarding warning letters under CFTC regulation 38.710 and one recommendation regarding the monitoring of suspensions under CFTC regulation 38.710.
The report is available on the CFTC’s website at Rule Enforcement Review.
