CFTC releases MGEX enforcement review
High staff turnover and unprecedented market volatility and volume affected the Minneapolis Grain Exchange's (MGEX's) ability to perform all of its self-regulatory functions in recent years, according to the Commodity Futures Trading Commission (CFTC).
Details of a rule enforcement review covering the period from October 1, 2006 to June 30, 2008, were published by the CFTC today. The purpose of the review was to assess MGEX's compliance with core principles relating to market surveillance, audit trail, trade practice surveillance and disciplinary and dispute resolution programs. The review also evaluated the adequacy of MGEX's resources when performing its self-regulatory functions during volatile periods.
The Commission's Division of Market
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