Chicago Futures Market: Initial Observations on Trade Practice Abuses

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.