In general
Every person registered hereunder as futures commission merchant, introducing broker, floor broker, or floor trader shall make such reports as are required by the Commission regarding the transactions and positions of such person, and the transactions and positions of the customer thereof, in commodities for future delivery on any board of trade in the United States or elsewhere, and in any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract; shall keep books and records pertaining to such transactions and positions in such form and manner and for such period as may be required by the Commission; and shall keep such books and records open to inspection by any representative of the Commission or the United States Department of Justice.
Daily trading records: registered entities
Every registered entity shall maintain daily trading records. The daily trading records shall include such information as the Commission shall prescribe by rule.
Daily trading records: floor brokers, introducing brokers, and futures commission merchants
Floor brokers, introducing brokers, and futures commission merchants shall maintain daily trading records for each customer in such manner and form as to be identifiable with the trades referred to in subsection (b).
Daily trading records: form and reports
Daily trading records shall be maintained in a form suitable to the Commission for such period as may be required by the Commission. Reports shall be made from the records maintained at such times and at such places and in such form as the Commission may prescribe by rule, order, or regulation in order to protect the public interest and the interest of persons trading in commodity futures.
Disclosure of information
Before the beginning of trading each day, the exchange shall, insofar as is practicable and under terms and conditions specified by the Commission, make public the volume of trading on each type of contract for the previous day and such other information as the Commission deems necessary in the public interest and prescribes by rule, order, or regulation.
Authority of Commission to make separate determinations unimpaired
Nothing contained in this section shall be construed to prohibit the Commission from making separate determinations for different registered entities when such determinations are warranted in the judgment of the Commission.
Sept. 21, 1922, ch. 369, § 4g June 15, 1936, ch. 545, § 5 49 Stat. 1496 Pub. L. 90–258, § 882 Stat. 28 Pub. L. 93–463, title I, § 103(a)88 Stat. 1392 Pub. L. 95–405, § 692 Stat. 869 Pub. L. 97–444, title II, § 20996 Stat. 2302 Pub. L. 102–546, title II, § 207(b)(1)106 Stat. 3604 Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(7)]114 Stat. 2763 Pub. L. 110–234, title XIII, § 13202(a)122 Stat. 1438 Pub. L. 110–246, § 4(a)122 Stat. 1664 (, as added , ; amended , , ; , (f), title IV, § 415, , , 1415; , , ; , , ; , title IV, § 402(5), , , 3624; , , , 2763A–407; , , ; , title XIII, § 13202(a), , , 2200.)
Editorial Notes
Codification
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .
Amendments
Pub. L. 110–246, § 13202(a)2008—Subsec. (a). , inserted “, and in any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “elsewhere”.
Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(7)(A)]2000—Subsec. (b). , substituted “registered entity” for “clearinghouse and contract market”.
Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(7)(B)]Subsec. (f). , substituted “registered entities” for “clearinghouses, contract markets, and exchanges”.
Pub. L. 102–5461992—Subsec. (a). , §§ 207(b)(1), 402(5)(A), redesignated par. (1) as subsec. (a) and substituted “floor broker, or floor trader” for “or floor broker”.
Pub. L. 102–546, § 402(5)(A)Subsec. (b). , redesignated par. (2) as subsec. (b).
Pub. L. 102–546, § 402(5)Subsec. (c). , redesignated par. (3) as subsec. (c) and substituted “subsection (b)” for “paragraph (2)”.
Pub. L. 102–546, § 402(5)(A)Subsecs. (d) to (f). , redesignated pars. (4) to (6) as subsecs. (d) to (f), respectively.
Pub. L. 97–444, § 209(1)1983—Par. (1). , made reporting and recordkeeping requirements applicable to introducing brokers.
Pub. L. 97–444, § 209(2)Par. (2). , made customer daily trading records requirement applicable to introducing brokers.
Pub. L. 95–4051978—Par. (3). substituted “Floor brokers” for “Brokers”.
Pub. L. 93–4631974—Par. (1). , §§ 103(a), (f), 415, designated existing provisions as par. (1) and substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”.
Pub. L. 93–463, § 415Pars. (2) to (6). , added pars. (2) to (6).
Pub. L. 90–258section 9 of this title1968— rephrased existing provisions to express reporting and recordkeeping requirements as a positive obligation of futures commission merchants and floor brokers, rather than as a ground for revoking or suspending registration and struck out provisions for revocation or suspension of registration. See .
Statutory Notes and Related Subsidiaries
Effective Date of 2008 Amendment
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4 of Pub. L. 110–246section 8701 of this titleAmendment of this section and repeal of by effective , the date of enactment of , except as otherwise provided, see , set out as an Effective Date note under .
section 13202(a) of Pub. L. 110–246section 13204(a) of Pub. L. 110–246section 2 of this titleAmendment by effective , see , set out as a note under .
Effective Date of 1992 Amendment
section 207(b)(1) of Pub. L. 102–546section 207(c) of Pub. L. 102–546section 6e of this titleAmendment by effective 180 days after , with Commodity Futures Trading Commission to issue any regulations necessary to implement such amendment no later than 180 days after , see , set out as a note under .
Effective Date of 1983 Amendment
Pub. L. 97–444section 239 of Pub. L. 97–444section 2 of this titleAmendment by effective , see , set out as a note under .
Effective Date of 1978 Amendment
Pub. L. 95–405section 28 of Pub. L. 95–405section 2 of this titleAmendment by effective , see , set out as a note under .
Effective Date of 1974 Amendment
Pub. L. 93–463section 418 of Pub. L. 93–463section 2 of this titleFor effective date of amendment by see , set out as a note under .
Effective Date of 1968 Amendment
Pub. L. 90–258section 28 of Pub. L. 90–258section 2 of this titleAmendment by effective 120 days after , see , set out as a note under .
Effective Date
section 1 of this titleFor effective date of section, see section 13 of act , set out as an Effective Date of 1936 Amendment note under .