Chicago Futures Market: Initial Observations on Trade Practice Abuses

GGD-89-58 Published: Mar 13, 1989. Publicly Released: Mar 13, 1989.

Highlights

In response to a congressional request, GAO reviewed how the Commodity Futures Trading Commission (CFTC), Chicago Board of Trade (CBT), and Chicago Mercantile Exchange (CME) oversee futures market trading practices, focusing on the: (1) adequacy of oversight controls; (2) disciplinary actions the exchanges have taken; and (3) market reforms the exchanges have considered or implemented.

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Topics

Financial Markets and Institutions

AuditsAudit trailBrokerage industryCommodities exchangesDisciplinary actionsEthical conductFines (penalties)FuturesInformation systemsProgram abusesSecurities fraudSecurities regulation