Commodity Exchange Act

(redirected from Commodity Exchange Act of 1936)

Commodity Exchange Act

Legislation in the United States, passed in 1936, that imposed regulations upon the trading of commodities as well as some futures and options. Among other things, the Act provides that any option on a commodity and all futures must occur on an exchange and not over-the-counter. This Act replaced the Grain Futures Act of 1922. See also: CFTC, New Deal, Onion Futures Act.
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After the collapse of the equity markets and then the banking system between 1929 and 1933, the Roosevelt administration drove the passage of the Securities Acts of 1933 and 1934 to regulate securities, and the Commodity Exchange Act of 1936 to regulate futures transactions.
Out of the black hole: reining in the reckless market in over-the-counter derivatives
Surprisingly, during the period when the CME was developing new innovative futures contracts, none of the exchanges seriously looked at options until a rough group of traders in the early 1970s found a loophole in the Commodity Exchange Act of 1936 that banned options to open option trading on commodities.
Chapter 4 Markets, exchanges, and regulation
The Commodity Exchange Act of 1936 introduced provisions to protect retail investors in agricultural futures.
Statements to the Congress

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