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CHAPTER 1Commodity Futures Trading Commission . . . . . . .
CHAPTER I-Securities and Exchange Commission ........
COMMODITY FUTURES TRADING
practice .... . . . . . . . . . . . . . . . .
foreign brokers, and members of contract markets. . . . .
130 Limits on positions and trading ............ 136 Trading standards . . . . . . . . . . . . . . . . .
141 Arbitration or other dispute settlement procedures...... 143
32 100 140 145
101 115 123
150 155 180
PART 1- GENERAL REGULATIONS UNDER
DEFINITIONS Seo. 1.1 Words in singular and plural form. 1.2 Llability of principal for act of agent. 1.3 Definitions.
mission merchants. 1.8 Registration required of floor brokers. 1.9 Registration as one type of person not
included in registration as any
other type of person. 1.10 Application for registration and i
nancial reports. 1.104 (Reserved] 1.10b Applications for registration of asso
ciated persons. 1.100 Applications for registration of com
modity trading advisors. 1.100 Applications for registration of com
modity pool operators. 1.11 Registration fees; form of remittance. 1.18 Deposit of registration fee; feo not
subject to refund after registration. 1.14 Deficiencies, inaccuracies, and
changes, to be reported. 1.15 Changes requiring new registration. 1.17 Minimum anancial requirements. 1.18 Records for and relating to financial
reporting and monthly computa
tion, PROHIBITED TRADING IN COMMODITY OPTIONS 1.19 Prohibited trading in "puts" and
"calls" in commodities. CUSTOMERS' MONEY, SECURITIES, AND PROPERTY 1.20 Customers' money, securities, and
property to be segregated and sop
aratoly accounted for. 1.21 Oaro of money and equities accruing
to customer. 1.22 Uso of money, securities, or property
of customer restricted. 1.28 Interest of futures commission mer
chant in sogregated funds, additions
and withdrawals. 1.24 Segregated funds; exclusions thero
from. 1.26 Investment of customers' funds. 1.26 Deposit of obligations purchased with
customers' funds. 1.27 Record of investments. 1.28 Appraisal of obligations purchased
with customers' funds. 1.29 Incromont or interest rosulting from
investmont of customors' funds. 1.80 Loans by futures commission mer
chants; treatment of proceods.
RECORD KEEPING 1.91 Books and records; kooping and in
Sec. 182 Segregated account; dally computa
tion and record. Monthly statement for customer and
record of customer's position in each
future. 1.33a Controlled accounts. 1.34 Monthly record, "point balanco". 1.88 Records of cash commodity and fu
tures transactions. Record of securities and property ro
ceived from customers. 1.87 1.87 Customer's name, address, and Oc
cupation recorded; record of guar
antor or controller of account. 1.88 Execution of transactions. 1.89 Simultaneous buying and selling or
ders of different principals; execution of, for and botweon principals.
MISCELLANEOUS 1.40 Crop, market information lottors, ro
ports; coples required. 1.41 Contract market rules, submission of
rules to Commission, exemption of temporary emergency rules and certain operational and Administrative
rules, emergencies. 1.418 Delegation of authority to the Execu
tive Director and the Director of the Division of Trading and Mar
Delivery notico; Miling of copy. 1.43
Information required concerning
warehouses, depositories, and other
similar entities. 1.44 Records and reports of warohouses,
depositories, and other simllar on
titles; visitation of promisos. 1.45 Dellvery of commodities conforming
to United States standards. 1.46 Application and closing out of o
setting long and short positions. Hodging anticipated requtromonts for
processing or manufacturing or livestock and poultry production under $ 1.3(z) (4) of the regulations under
the Act. 1.80 Filing of information by contract
markets. 1.51 Contract Market Program for Enforce
ment. 1.53 Enforcement of contract market by
laws, rules, regulations and resolu
tions. 1.84 Contract market rules submitted to
and approved or not disapproved by
the Secretary of Agriculture. 1.60 Pending legal proceedings.
AUTHORITY: Sec. 88, 49 Stat. 1500, as amended, 88 Stat. 1892; 7 U.S.C. 12a, unless otherwise noted.
SOURCE: 41 FR 3194, Jan. 21, 1976, unless otherwise noted.
lard, tallow, cottonseed oil, peanut oil, 8 1.1 Words in singular and plural
soybean o11, and all other fats and oils),
cottonseed meal, cottonseed, peanuts, form.
soybeans, soybean meal, livestock, liveWords used in the singular form in stock products, and frozen concentrated the rules and regulations in this part
orange juice, and all other goods and shall be deemed to import the plural, and articles, except onions as provided in vice versa, as the case may require. Pub. L. 85-839, and all services, rights § 1.2 Liability of principal for act of
and interests in which contracts for agent.
future delivery are presently or in the
future dealt in. The act, omission, or failure of any
(Sec. 2(a) (1), 88 Stat. 1395; 7 0.8.c. 2(1)) oficial, agent, or other person acting for any individual, association, partnership, (f) Commodity Exchange Act; the Act. corporation, or trust, within the scope These terms mean the Commodity Exof his employment or office, shall be change Act, as amended, 7 U.S.C. 1 et deemed the act, omission, or failure of seq. such individual, association, partnership, (g) (Reserved] corporation, or trust as well as of such (h) Contract Market. This term means oficial, agent, or other person.
a board of trade designated by the Com(Sec. 2, 42 Stat. 998; 7 U.S.C 4)
mission as a contract market under the
Commodity Exchange Act. 8 1.3 Definitions.
(1) Contract of sale. This term inThe following terms, as used in the cludes sales, purchases, agreements of Commodity Exchange Act, or in the rules sale or purchase and agreements to sell and regulations in this chapter, shall or purchase. have the meanings hereby assigned to (j) Controlled account. An account them, unless the context otherwise re shall be deemed to be controlled by a quires:
person if such person by power of at(a) Board of Trade. This term means torney or otherwise actually directs tradany exchange or association, whether in- ing for such account. corporated or unincorporated, of persons (k) Customer; commodity customer. who shall be engaged in the business of These terms have the same meaning and buying or selling any commodity or re- refer to a customer trading in any comceiving the same for sale on consignment. modity named in the definition of com
(b) Business day. This term means any modity herein: Provided, however, An day other than a Sunday or holiday. In owner or holder of a proprietary acall notices required by the act or by the count as defined in paragraph (y) of rules and regulations in this chapter to this section shall not be deemed to be a be given in terms of business days the customer within the meaning of section rule for computing time shall be to ex- 4d of the Act, the regulations that impleclude the day on which notice is given ment sections 4d and 4f of the Act and and include the day on which shall take $ 1.35, and such an owner or holder of place the act of which notice is given. such a proprietary account shall other
(c) Clearing member. This term means wise be deemed to be a customer within any person who is a member of, or enjoys the meaning of the Act and 88 1.37 and the privilege of clearing trades in his 1.46 and all other sections of these rules, own name through, the clearing organi- regulations and orders which do not imzation of a contract market.
plement sections 4d and 4f. (d) Clearing organization. This term (1) Delivery month. This term means means the person or organization which the month of delivery specified in a conacts as a medium for clearing transac- tract of sale of any commodity for tions in commodities for future delivery, future delivery. or for effecting settlements of contracts (m) [Reserved] for future delivery, for and between (n) Floor broker. This term means members of any board of trade.
any person who, in or surrounding any (e) Commodity. This term means and pit, ring, post, or other place provided includes wheat, cotton, rice, corn, oats, by a contract market for the meeting barley, rye, flaxseed, grain sorghums, of persons similarly engaged, shall purmillfeeds, butter, eggs, Irish potatoes, chase or sell for any other person any wool, wool tops, fats and oils (including commodity for future delivery on or