The Commodity Futures Trading Commission will allow Exempt Commercial Markets and Exempt Boards of Trade to continue operating after July 15, 2011, even though their statutory underpinning will end.
On that date the clause of the Dodd-Frank Act will come into force that deletes the sections of the Commodity Exchange Act that provide for ECMs and EBOTs.
These regulatory statuses were introduced in 2000 with the Commodity Futures Modernisation Act. It relaxed controls on commodity derivatives trading, by allowing swaps covering some ‘exempt commodities’, namely...