CFTC Declares Rule Enforcement Review Result

The Commodity Futures Trading Commission (CFTC) has informed the New York Mercantile Exchange and the Commodity Exchange of the results of a joint rule enforcement review. Trading from Jan. 1, 2009 to Dec. 31, 2009 was covered in the review.

The review, which was completed by the CFTC’s division of market oversight, evaluated both the exchanges’ compliance with core principles relating to their audit trail, trade practice surveillance and disciplinary programs. The CFTC division has recommended the exchanges to impose meaningful sanctions on members to discourage recidivist activity, issue disciplinary decisions after a hearing and document disciplinary committee decisions.

Click here for the release from the Commodity Futures Trading Commission.