RULEBOOK

  1. DEFINITIONS AND INTERPRETATIONS
    101. Definitions
    102. Scope and Interpretation


  2. EXCHANGE GOVERNANCE
    201. The Board of Managers
    202. Delegated Authority to Adopt Rule Changes
    203. Officers
    204. Committees
    205. Regulatory Oversight Committee
    206. Business Conduct Committee
    207. Hearing Committee
    208. Arbitration Committee
    209. Eligibility
    210. Confidentiality of Board and Committee Deliberations
    211. Employee Trading
    212. Indemnification
    213. Conflicts of Interest


  3. TRADING ACCESS
    301. Clearing Firms and Authorized Participants Limitations
    302. Clearing Firms
    303. Consent to Jurisdiction
    304. Authorized Participant Access Authorization
    305. Sponsored Direct Market Access
    306. Customer Access Over Automated Order Routing Systems
    307. Supervision of Customer Use of Automated Order Routing Systems
    308. Clearing Firm Guarantee
    309. Continued Exchange Jurisdiction
    310. System Security
    311. Clearing Firm Not in Good Standing with Clearing House
    312. Insolvency of a Direct Market Access Authorized Participant
    313. Failure to Satisfy Obligations


  4. OPERATION OF THE EXCHANGE SYSTEM AND TRADING PRACTICES
    401. Contracts Traded on the System
    402. Trading Session
    403. Exchange System Opening
    404. Exchange System Closing
    405. Trading Suspension or Halt
    406. Execution Algorithm
    407. Exchange System Attributes
    408. Acceptable Orders
    409. Order Entry; Records; Bunched Orders
    410. Modification and Cancellation of Orders
    411. Errors in Handling of Customer Orders
    412. Wash Trades
    413. “Spoofing” Orders and Disruptive Practices
    414. Guarantee of Execution
    415. Price Limits
    416. Execution Binding
    417. Dual Trading
    418. Priority of Customer Orders
    419. Trading Against Customer Orders Prohibited
    420. Withholding Orders
    421. Disclosing Orders
    422. Pre-Arranged Trades; Permissible Pre-Execution Discussions
    423. Buying and Selling Orders for the Same Principals
    424. Simultaneous Buying and Selling Orders for Different Principals Executed by Authorized Participant
    425. Fraudulent Acts
    426. Fictitious Transactions
    427. Market Demoralization
    428. Market Manipulation
    429. Emergencies
    430. Transfer Trades
    431. Limitation of Liability


  5. BUSINESS CONDUCT
    501. CFTC Registration
    502. Books and Records
    503. Audit and Financial Filings
    504. Minimum Financial and Related Reporting Requirements for Commission Registrants
    505. Authority of the CEO or President to Impose Restriction
    506. Treatment of Customer Funds
    507. Supervision
    508. Confirmations
    509. Customer Statements
    510. Solicitation Rules
    511. Just and Equitable Principles of Trade
    512. Cooperation In Investigations
    513. Prohibition of Misstatements
    514. Compliance with CEA and CFTC Rules


  6. DISCIPLINE AND ENFORCEMENT
    601. Scope
    602. Inquiries and Investigations
    603. Disciplinary Procedures
    604. Penalties
    605. Summary Responsibility Actions
    606. Settlement Offers
    607. Notification of Disciplinary and Access Denial Actions
    608. Modification of NFA Rules


  7. ARBITRATION
    701. Scope
    702. Customer Arbitration
    703. Other Arbitration
    704. Modification of NFA Rules


  8. CLEARING FIRM
    801. Clearing Firm Qualification
    802. Clearing and Settlement of Trades


  9. GENERAL TERMS WITH RESPECT TO CONTRACTS
    901. Contract Specifications
    902. Customer Margin Requirements
    903. Reportable Positions
    904. Contracts Subject to Position Limits or Position Accountability
    905. Settlement
    906. Positions Exceeding Position Accountability Levels
    907. Position Limit Exemptions
    908. Trading by Certain Persons Prohibited