---
kind: "section"
citation: "7 U.S.C. § 6j"
title: "7"
title_heading: "Agriculture"
number: "6j"
heading: "Restrictions on dual trading in security futures products on designated contract markets and registered derivatives transaction execution facilities"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/7/6j"
units:
  - "Chapter 1 — Commodity Exchanges"
---

# §6j. Restrictions on dual trading in security futures products on designated contract markets and registered derivatives transaction execution facilities

- (a) **Issuance of regulations—** The [Commission](/usc/7/1a.md?p=8) shall issue regulations to prohibit the [privilege](/usc/7/1a.md?p=36) of dual trading in [security futures products](/usc/7/1a.md?p=45) on each contract [market](/usc/7/198.md?p=1) and registered derivatives transaction execution facility. The regulations issued by the [Commission](/usc/7/1a.md?p=8) under this section—
  - (1) shall provide that the prohibition of dual trading thereunder shall take effect upon issuance of the regulations; and
  - (2) shall provide exceptions, as the [Commission](/usc/7/1a.md?p=8) determines appropriate, to ensure fairness and orderly trading in [security futures product](/usc/7/1a.md?p=45) [markets](/usc/7/198.md?p=1), including—
    - (A) exceptions for spread transactions and the correction of trading errors;
    - (B) allowance for a [customer](/usc/7/24.md?p=b) to designate in writing not less than once annually a named [floor broker](/usc/7/1a.md?p=22-A) to execute orders for such [customer](/usc/7/24.md?p=b), notwithstanding the regulations to prohibit the [privilege](/usc/7/1a.md?p=36) of dual trading required under this section; and
    - (C) other measures reasonably designed to accommodate unique or special characteristics of individual [boards](/usc/7/1a.md?p=5) of trade or contract [markets](/usc/7/198.md?p=1), to address emergency or unusual [market](/usc/7/198.md?p=1) conditions, or otherwise to further the public interest consistent with the promotion of [market](/usc/7/198.md?p=1) efficiency, innovation, and expansion of investment opportunities, the protection of investors, and with the purposes of this section.
- (b) **“Dual trading” defined—** As used in this section, the term “dual trading” means the execution of [customer](/usc/7/24.md?p=b) orders by a [floor broker](/usc/7/1a.md?p=22-A) during the same trading session in which the [floor broker](/usc/7/1a.md?p=22-A) executes any trade in the same contract [market](/usc/7/198.md?p=1) or registered derivatives transaction execution facility for—
  - (1) the account of such [floor broker](/usc/7/1a.md?p=22-A);
  - (2) an account for which such [floor broker](/usc/7/1a.md?p=22-A) has trading discretion; or
  - (3) an account controlled by a [person](/usc/7/1a.md?p=38) with whom such [floor broker](/usc/7/1a.md?p=22-A) has a relationship through membership in a [broker](/usc/7/499a.md?p=b-7) association.
- (c) **“Broker association” defined—** As used in this section, the term “[broker](/usc/7/499a.md?p=b-7) association” shall include two or more contract [market](/usc/7/198.md?p=1) [members](/usc/7/1a.md?p=34) or registered derivatives transaction execution facility [members](/usc/7/1a.md?p=34) with floor trading [privileges](/usc/7/1a.md?p=36) of whom at least one is acting as a [floor broker](/usc/7/1a.md?p=22-A), who—
  - (1) engage in floor brokerage activity on behalf of the same employer,
  - (2) have an employer and employee relationship which relates to floor brokerage activity,
  - (3) share profits and losses associated with their brokerage or trading activity, or
  - (4) regularly share a deck of orders.

## Source credit

(Sept. 21, 1922, ch. 369, § 4j, as added Pub. L. 93–463, title II, § 203, Oct. 23, 1974, 88 Stat. 1396; amended Pub. L. 94–16, § 2, Apr. 16, 1975, 89 Stat. 77; Pub. L. 102–546, title I, §§ 101, 102(a), Oct. 28, 1992, 106 Stat. 3591, 3594; Pub. L. 106–554, § 1(a)(5) [title II, § 251(c)], Dec. 21, 2000, 114 Stat. 2763, 2763A–442.)

## Notes

### Editorial Notes

### Amendments

2000—Pub. L. 106–554 amended section generally. Prior to amendment, section required Commission to issue regulations to prohibit the privilege of dual trading on contract markets, allowed for certain exemptions, required Commission to make determinations relating to trading by floor brokers and futures commission merchants, and restricted trading among members of broker associations.

1992—Subsec. (a). Pub. L. 102–546, § 101(a)(3), added subsec. (a).

Subsec. (b). Pub. L. 102–546, § 101(a)(1), (2), redesignated par. (1) as subsec. (b) and substituted “If, in addition to the regulations issued pursuant to subsection (a) of this section, the Commission has reason to believe that dual trading-related or facilitated abuses are not being or cannot be effectively addressed by subsection (a) of this section, the Commission shall” for “The Commission shall within nine months after the effective date of the Commodity Futures Trading Commission Act of 1974, and subsequently when it determines that changes are required,”.

Subsec. (c). Pub. L. 102–546, § 101(a)(1), redesignated par. (2) as subsec. (c).

Subsec. (d). Pub. L. 102–546, § 102(a), added subsec. (d).

1975—Pub. L. 94–16 substituted “nine months” for “six months” in pars. (1) and (2).

### Statutory Notes and Related Subsidiaries

### Effective Date of 1992 Amendment

Pub. L. 102–546, title I, § 102(b), Oct. 28, 1992, 106 Stat. 3594, provided that: “The amendment made by subsection (a) [amending this section] shall become effective two hundred and seventy days after the date of enactment of this Act [Oct. 28, 1992].”

### Effective Date

For effective date of section, see section 418 of Pub. L. 93–463, set out as an Effective Date of 1974 Amendment note under section 2 of this title.