Series 3: 7.3.7.2. Trading Ahead And Other Trading Standards

Taken from our Series 3 Online Guide

7.3.7.2. Trading Ahead and Other Trading Standards

Every FCM must establish procedures to ensure that executable customer orders at or near the market price are sent to an exchange before any of the firm’s own orders in the same commodity. This rule holds, unless the customer specifically agrees otherwise. These procedures must be designed to prevent affiliated persons from placing orders with another FCM to get around this policy.

FCMs may not knowingly handle the account of an affiliated person of another FCM or IB unless the following occurs:

• The firm receives written authorization from someone at the affiliated firm who has surveillance authority over the person’s trading activities

• The firm immediately prepares a wr

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