Designated contract markets (DCMs) must submit to the CFTC and receive CFTC approval prior to implementation of all new rules and rule amendments that materially change the terms and conditions of contracts on commodities enumerated in Section 1a(4) of the Commodity Exchange Act (CEA). This will also apply to contracts with open interest (CFTC).
In 1936, the U.S. Congress prohibited options trading in all commodities regulated under the Commodity Exchange Act. The prohibition was a response to a history of manipulation and price disruption in the futures markets attributed to options trading. The prohibition applied to all the “enumerated” agricultural commodities named in the 1936 Act. In subsequent years the list of enumerated commodities grew.
|Enumerated Agricultural Commodities|