Futures Markets -- Commodity Exchange Act and Commodity Exchange Authority

Commodity Exchange Act: Requires Exchanges To Be Designated as "Contract Markets" -- Requires Futures Commission Merchants and Floor Brokers To Be Registered -- Provides for Protection of Customers’ Funds -- Specifies the Commodities Covered -- Limits Large-Scale Speculation -- Provides Two Means of Dealing With Violations (Criminal and Administrative). Enforcement of the Commodity Exchange Act involves five principal kinds of work: Contract Market Designation and Broker Registration -- Audits of Brokerage Firms -- Dealing With Questionable Practices and Violations of the Act -- Supervision Over Daily Trading -- Limits on Speculation by Large Traders.