[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR1.62]

[Page 103-104]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 1--GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT--Table of Contents
 
Sec. 1.62  Contract market requirement for floor broker and floor trader registration.

    (a)(1) Each contract market shall adopt, maintain in effect, and 
enforce rules which have become effective pursuant to section 
5a(a)(12)(A) of the Act and Sec. 1.41 and which provide that no person 
in or surrounding any pit, ring, post, or other place provided by such 
contract market for the meeting of persons similarly engaged may:
    (i) Purchase or sell for any other person any commodity for future 
delivery, or any commodity option, on or subject to the rules of that 
contract market,

[[Page 104]]

unless such person is registered or has been granted a temporary license 
as a floor broker; or
    (ii) Purchase or sell solely for such person's own account, any 
commodity for future delivery, or any commodity option, on or subject to 
the rules of that contract market, unless such person is registered or 
has been granted a temporary license as a floor trader, or has been 
granted a temporary license as a floor broker to act as a floor trader, 
in accordance with section 4f of the Act and Sec. 3.11 or Sec. 3.40 of 
this chapter, and such temporary license or registration has not been 
terminated, revoked or withdrawn: Provided, however, That such contract 
market rules must provide that a floor broker or floor trader will be 
prohibited from engaging in activities requiring registration under the 
Act or from representing himself to be a registrant under the Act or the 
representative or agent of any registrant during the pendency of any 
suspension of such person's registration or the suspension by a contract 
market of access of such person to any pit, ring, post or other place 
provided by such contract market for the meeting of persons engaged in 
purchasing and selling any commodity for future delivery or commodity 
option on or subject to the rules of that contract market.
    (2) Each contract market shall also adopt, maintain in effect and 
enforce rules which have become effective pursuant to section 
5a(a)(12)(A) of the Act and Sec. 1.41 which provide for requests for 
withdrawal of floor broker or floor trader registration using Form 8-W 
in accordance with Sec. 3.33 of this chapter, which require training of 
floor brokers and floor traders in accordance with Sec. 3.34 of this 
chapter and which require review of registration information by floor 
brokers and by floor traders every three years in accordance with 
Sec. 3.11(d) of this chapter.
    (b) Each contract market must notify the Commission of any facts 
regarding a floor broker or floor trader or an applicant for 
registration as a floor broker or floor trader, or a floor trader whose 
name appears on a list submitted in accordance with Sec. 1.66 in order 
to qualify for a temporary no-action position thereunder, who has been 
granted trading privileges at the contract market, which are set forth 
as statutory disqualifications in section 8a(2) of the Act (unless such 
facts result from an enforcement action filed by the Commission or a 
disciplinary action taken by another contract market) or which are 
terminations of floor trading privileges for cause under Sec. 9.11(c) of 
this chapter within ten business days of the date upon which the 
contract market first knows of such facts. Notice to the Commission 
shall be sufficient if the contract market gives notice to the Director 
of the Division of Trading and Markets or the Director's designee by 
facsimile transmission and/or first class mail or equivalent means to 
the Commission at its Washington, DC office (Attn: Chief Counsel, 
Division of Trading and Markets, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581).

[58 FR 19589, Apr. 15, 1993; 59 FR 5700, Feb. 8, 1994, as amended at 60 
FR 49334, Sept. 25, 1995]