Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

CFTC - U.S. Commodity Futures Trading Commission : CFTC Releases Rule Enforcement Review of the CBOE Futures Exchange

09/09/2013 | 05:45pm US/Eastern
Recommend:
0

September 9, 2013

Washington, DC - The Commodity Futures Trading Commission (Commission) today notified CBOE Futures Exchange (CFE) of the results of a rule enforcement review completed by the Commission's Division of Market Oversight (Division). The review covered the target periods from November 1, 2009 to November 1, 2010 (first target period) and November 1, 2010 to August 1, 2012 (second target period). The Division evaluated the Exchange's compliance with Core Principles 10 (Trade Information) and 17 (Recordkeeping), which relate to an exchange's audit trail program for the recording and safe storage of trade information in a manner which enables prevention of customer and market abuses and enforcement of exchange rules.

The Division found that CFE maintains an adequate audit trail program, and commends the Exchange for substantial improvements during the second target period, including the development of a comprehensive new audit trail exam program and a significant increase in staffing.

Although the Division found that the Exchange's overall audit trail program was adequate, it also identified specific areas in which CFE should improve. Specifically, the Division recommended that all logs maintained by CFE contain accurate and meaningful dates, including the dates on which staff began and completed its work on a matter. Similarly, the Division recommended that CFE include in its case reports the date on which the report was approved by senior compliance staff and the signature of the approving compliance official.

The Division also recommended that the Exchange reduce the time it takes to complete audit trail investigations, and that it continue to focus on reducing the time taken to complete annual audit trail exams of trading privilege holders.

Lastly, the Division found the quality and documentation of CFE's investigations and examinations work to be thorough and complete, with one exception. Accordingly, the Division recommended that the Exchange take prompt disciplinary action when it identifies violations of its audit trail or recordkeeping requirements by persons subject to CFE's rules.

Copies of the report are available from the Commission's Office of Public Affairs, Three Lafayette Centre, 1155 21st Street N.W., Washington, DC 20581, 202-418-5080, or by accessing the Commission's website at www.cftc.gov.

Last Updated: September 9, 2013

distributed by
Recommend :
0
React to this article
Latest news
Date Title
<1m ago Kalimantan Gold Corp Reports Swing To Second Quarter Loss
<1m ago Iliad says still working on T-Mobile US acquisition
2m ago Lundin Spuds Exploration Well 33/12-10 S in PL631
2m ago GAZPROM NEFT' : Starts Commercial Crude Oil Production in Badra
2m ago ORACLE : European Commission Clears Oracle's Acquisition of MICROS; Tender Offer Set to Expire, Tuesday, September 2
2m ago RESEARCH AND MARKETS : Global Multiple Sclerosis Drugs Market 2014-2018 Featuring Bayer, Biogen Idec, Merck Serono, Novartis & Teva Pharmaceutical
3m ago Oslo Børs - SNI05 - New bond issue to be listed on Oslo Børs on the 02.09.2014
3m ago JOHN LEWIS OF HUNGERFORD : Cancels Meeting To Consider Name Change
3m ago KENCANA AGRI : Change Of Chairman Of The Remuneration Committee
3m ago ARMARDA : Updates on granting of mobile virtual network operator permit and appointment of directors in petc
Latest news
Advertisement
Hot News 
FORBIDDEN TECHNOLOGIES : Launches Alpha Test Of 'Eva' Video Platform
WORTHINGTON : Re Agreement
PERFORM : Final cash offer
SEEING MACHINES : Trading Up 25% As It Teams With Takata Corp
FERRO METALS : UG2 Supply Update
Most Read News
1d ago TOTAL KENYA : Shell closes in on market leader as KenolKobil drops
1d ago CHINA GALAXY SECURITIES : seeks approval for $1.2 billion Shanghai listing
1d ago PORSCHE AUTOMOBIL SE : set to launch Sh9.3m SUV model
1d ago CITIGROUP : Citi to pay allowance to compensate for limited bonuses
1d ago NATIONAL BANK OF KENYA : share premium to earn Treasury, NSSF Sh1.4bn
Most recommended articles
9m agoDJZambia Copper Miners Say Crippled by Unpaid $600 Million Tax Refund-Mines Body
3d ago S&P 500 edges up to set new record; best month since Feb
4m ago Ireland bucks the trend in euro zone's stalled recovery
6m agoDJChina AgBank Chairman Named Jilin Deputy Party Secretary -- Update
10m ago Telefonica chairman opens door to Telecom Italia exit
Dynamic quotes  
ON
| OFF