Regulations last checked for updates: Nov 24, 2024

Title 17 - Commodity and Securities Exchanges last revised: Nov 19, 2024
§ 38.607 - Direct access.

A designated contract market that permits direct electronic access by customers (i.e., allowing customers of futures commission merchants to enter orders directly into a designated contract market's trade matching system for execution) must have in place effective systems and controls reasonably designed to facilitate the FCM's management of financial risk, such as automated pre-trade controls that enable member futures commission merchants to implement appropriate financial risk limits. A designated contract market must implement and enforce rules requiring the member futures commission merchants to use the provided systems and controls.

authority: 7 U.S.C. 1a,2,6,6a,6c,6d,6e,6f,6g,6i,6j,6k,6l,6m,6n,7,7a-2,7b,7b-1,7b-3,8,9,15, and21,as,Pub. L. 111-203, 124 Stat. 1376
source: 66 FR 42277, Aug. 10, 2001, unless otherwise noted.
cite as: 17 CFR 38.607