Page:United States Statutes at Large Volume 114 Part 5.djvu/425

 PUBLIC LAW 106-554—APPENDIX E 114 STAT. 2763A-385 ensuring the financial integrity of transactions entered into by or through the facihties of the contract market, including the clearance and settlement of the transactions with a derivatives clearing organization. "(6) DISCIPLINARY PROCEDURES.—The board of trade shall establish and enforce disciplinary procedures that authorize the board of trade to discipline, suspend, or expel members or market participants that violate the rules of the board of trade, or similar methods for performing the same functions, including delegation of the functions to third parties. "(7) PUBLIC ACCESS. —The board of trade shall provide the public with access to the rules, regulations, and contract specifications of the board of trade. "(8) ABILITY TO OBTAIN INFORMATION. —The board of trade shall establish and enforce rules that will allow the board of trade to obtain any necessary information to perform any of the functions described in this subsection, including the capacity to carry out such international information-sharing agreements as the Commission may require. "(c) EXISTING CONTRACT MARKETS.—^A board of trade that is designated as a contract market on the date of the enactment of the Commodity Futures Modernization Act of 2000 shall be considered to be a designated contract market under this section. " (d) CORE PRINCIPLES FOR CONTRACT MARKETS. — "(1) IN GENERAL.—To maintain the designation of a board of trade as a contract market, the board of trade shall comply with the core principles specified in this subsection. The board of trade shall have reasonable discretion in establishing the manner in which it complies with the core principles. "(2) COMPLIANCE WITH RULES.— The board of trade shall monitor and enforce compliance with the rules of the contract market, including the terms and conditions of any contracts to be traded and any limitations on access to the contract market. " (3) CONTRACTS NOT READILY SUBJECT TO MANIPULATION. — The board of trade shall list on the contract market only contracts that are not readily susceptible to manipulation. "(4) MONITORING OF TRADING.—The board of trade shall monitor trading to prevent manipulation, price distortion, and disruptions of the delivery or cash-settlement process. "(5) POSITION LIMITATIONS OR ACCOUNTABILITY.— To reduce the potential threat of market manipulation or congestion, especially during trading in the delivery month, the board of trade shall adopt position limitations or position accountability for speculators, where necessary and appropriate. "(6) EMERGENCY AUTHORITY. — The board of trade shall adopt rules to provide for the exercise of emergency authority, in consultation or cooperation with the Commission, where necessary and appropriate, including the authority to— "(A) liquidate or transfer open positions in any contract; "(B) suspend or curtail trading in any contract; and "(C) require market participants in any contract to meet special margin requirements. "(7) AVAILABILITY OF GENERAL INFORMATION.— The board of trade shall make available to market authorities, market participants, and the public information concerning—

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