CFTC Chairman requests drafting of forecast market rules document

Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC), stated that he has requested CFTC staff to draft a rulemaking document regarding market forecasting. He pointed out that the existing framework of CFTC has been difficult to implement for a long time, failing to safeguard the interests of market participants, and plans to address this issue by developing clear competition contract standards to provide certainty for market participants.