What does ECM stand for?

ICE is regulated as an exempt commercial market under the Commodity Exchange Act (CEA).

This announcement by the CFTC applies to the spot CFI contract traded on the CCX, which operates as an exempt commercial market.

For example, exempt commercial markets conduct trading on electronic facilities between large, sophisticated participants.

In the reauthorization, the CFTC's authority over Exempt Commercial Markets like the IntercontinentalExchange Inc.

In the reauthorization, the CFTC's authority over Exempt Commercial Markets like the IntercontinentalExchange Inc.

The CRA modifies the terms of the exemption available to a trading facility operating as an exempt commercial market under CEA s.

Every trader who holds or controls a reportable futures or option position shall keep books and records showing all details concerning all positions and transactions in the commodity on all reporting markets, over the counter and/or pursuant to Sections 2(d), 2(g) or 2(h)(1)-(2) of the Act or Part 35 of this chapter, on exempt commercial markets operating pursuant to Sections 2(h)(3)-(5) of the Act, on exempt boards of trade operating pursuant to Section 5(d) of the Act, and on foreign boards of trade.

Notably, the adoption of these amendments has occurred at the same time as the release of a CFTC report to Congress recommending an increase in the oversight of trading activity on certain electronic trading platforms known as exempt commercial markets (each an "ECM") which would require various amendments to the Act.