CFTC Says CME's Exchanges Need More Compliance Staff
August 31 2011 - 3:11PM
Dow Jones News
The Commodity Futures Trading Commission said Wednesday that CME
Group needs to add more compliance staff to oversee its commodity
exchanges.
"The compliance staff dedicated to the exchange was unchanged
since the division's last review, despite a significant increase in
trading volume and products traded," the CFTC said in a
statement.
The enforcement review covered trading in 2009.
The CFTC's Division of Market Oversight recommended that CME add
compliance staff because of an increase in trading volume as well
as types of products traded.
The CFTC also recommended that CME issue disciplinary decisions
promptly after a hearing and better document those decisions. The
commission also urged CME to impose "meaningful" sanctions on
members to discourage repeat offenses.
CME had done a good job of harmonizing trading rules at its four
exchanges, the commission added.
-By Jamila Trindle, Dow Jones Newswires; 202-862-6684;
jamila.trindle@dowjones.com
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