|
As a "Designated Contract Market” or Futures Exchange authorized by the U.S. Commodity Futures Trading Commission (CFTC), NYSE Liffe must maintain compliance with several Core Principles listed in the Commodity Exchange Act. The Core Principles most underpinning NYSE Liffe's self-regulatory functions require futures exchanges to:
- Monitor for, and enforce compliance with, the exchange's rules
- Offer contracts that are not readily subject to manipulation
- Establish and enforce position limits or accountability levels
- Protect market participants from abusive practices, and
- Minimize and resolve conflicts of interest in the decision making processes of the exchange.
Consistent with the CFTC's guidance on acceptable practices to meet and maintain compliance with the Core Principles, NYSE Liffe has appointed a Chief Regulatory Officer (CRO), who reports to the Regulatory Oversight Committee, a standing committee of the NYSE Liffe Board of Directors, composed solely of independent directors, and has contracted with the National Futures Association (NFA) to serve as NYSE Liffe's Compliance Service Provider. Working under the supervision of the Regulatory Oversight Committee, and in conjunction with the NFA team, the CRO is responsible for managing NYSE Liffe's market and trade practice surveillance, rule enforcement, and coordination with relevant governmental authorities and other self-regulatory organizations.
|
