WASHINGTON, Sept. 21 (UPI) -- The U.S. Commodity Futures Trading Commission Tuesday said the New York Mercantile Exchange maintains an adequate trade practice surveillance program.
The CFTC said it has notified the Nymex of the results of a rule enforcement review.
The review was conducted by the CFTC's market oversight division, which assessed compliance with principles relating to trade practice surveillance. The CFTC says the target period for the review was Jan. 1 through Dec. 31, 2003.
"Nymex uses floor surveillance and a computerized trade practice surveillance system to monitor its markets," the CFTC said.
"Investigations were thorough and well-documented, and investigation reports included sufficient analysis to support staff's conclusions. In addition, investigations were completed in a timely manner."
In addition, the CFTC said it found the Nymex maintains an adequate audit trail program that allows the exchange to assign one-minute trade times based on pit card time stamps and also allows it to reconstruct trading.
