April 7, 2014
Washington, DC — The Commodity Futures Trading Commission’s (Commission) Division of Market Oversight (Division) issued the results of a rule enforcement review of OneChicago, LLC (OneChicago) today. The Division found specific areas where OneChicago should improve its trade practice program.
Among other items, the Division recommended that OneChicago take steps to ensure that its compliance surveillance department is adequately staffed to meet OneChicago’s self-regulatory responsibilities. The Division also recommended that OneChicago significantly increase the frequency and number of spot checks of exchange of future for physical and block transactions that it conducts annually. The Division had no recommendations with respect to the Exchange’s automated trade practice surveillance system or the timeliness of its investigations.
The review covered the target period from July 1, 2011 through June 30, 2012, and considered changes at OneChicago after the target period. The Division evaluated the Exchange’s compliance with Core Principles 2 (Compliance With Rules) and 12 (Protection of Markets and Market Participants), which relate to an exchange’s trade practice surveillance program. The Division focused on these core principles as amended by the Dodd-Frank Act, as the amended core principles were in effect for approximately 11 months of the target period.
The report can be viewed under Related Links or on the Commission’s website. Printed copies can be obtained from the Commission’s Office of Public Affairs, Three Lafayette Centre, 1155 21st Street N.W., Washington, DC 20581, 202-418-5080.
Last Updated: April 8, 2014