Commodity derivatives exchange regulation: new approval requirement, transitional clearing arrangements, and mandatory settlement guarantee obligations. The amendments add and revise definitions for clearing member and types of commodity derivatives exchanges, prohibit introduction of new segments without Board approval, require commodity derivatives exchanges to comply with recognized stock exchange provisions as specified by the Board, permit transitional clearing arrangements until clearing shifts to a separate clearing corporation, restrict non-derivatives activities without Board permission, prescribe allocation of settlement and other penalties between Settlement Guarantee Fund and Investor Protection Fund for national and regional exchanges, and mandate guarantee for settlement of trades including good delivery.
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Commodity derivatives exchange regulation: new approval requirement, transitional clearing arrangements, and mandatory settlement guarantee obligations.
The amendments add and revise definitions for clearing member and types of commodity derivatives exchanges, prohibit introduction of new segments without Board approval, require commodity derivatives exchanges to comply with recognized stock exchange provisions as specified by the Board, permit transitional clearing arrangements until clearing shifts to a separate clearing corporation, restrict non-derivatives activities without Board permission, prescribe allocation of settlement and other penalties between Settlement Guarantee Fund and Investor Protection Fund for national and regional exchanges, and mandate guarantee for settlement of trades including good delivery.
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