Title 7, AgricultureRelease 119-110
§6i Reports of Deals Equal to or in Excess of Trading Limits; Books and Records; Cash and Controlled Transactions
Title 7 › CHAPTER 1 — COMMODITY EXCHANGES › § 6i
Summary
You must not make or trade large commodity futures contracts in one day, or hold very large long or short positions, if those deals or positions meet or exceed the limits the Commission sets from time to time. This rule covers contracts on contract markets, derivatives trading facilities, electronic trading venues, and agreements treated as the same by clearinghouses. If you reach those limits, you must file the reports the Commission requires with its designated officer and keep books and records the Commission’s rules require. The records must cover related trades on other boards or electronic platforms, cash or spot transactions, inventories, and purchase or sale commitments. They must show full details, including names and addresses of everyone with an interest, and must be open to inspection by Commission or Department of Justice representatives. Your totals must include trades and positions of people you directly or indirectly control.
Full Legal Text
Title 7, §6i
Agriculture, Source: USLM XML via OLRC
It shall be unlawful for any person to make any contract for the purchase or sale of any commodity for future delivery on or subject to the rules of any contract market or derivatives transaction execution facility, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract—
(1)if such person shall directly or indirectly make such contracts with respect to any commodity or any future of such commodity during any one day in an amount equal to or in excess of such amount as shall be fixed from time to time by the Commission, and
(2)if such person shall directly or indirectly have or obtain a long or short position in any commodity or any future of such commodity equal to or in excess of such amount as shall be fixed from time to time by the Commission,
unless such person files or causes to be filed with the properly designated officer of the Commission such reports regarding any transactions or positions described in clauses (1) and (2) hereof as the Commission may by rule or regulation require and unless, in accordance with rules and regulations of the Commission, such person shall keep books and records of all such transactions and positions and transactions and positions in any such commodity traded on or subject to the rules of any other board of trade or electronic trading facility, and of cash or spot transactions in, and inventories and purchase and sale commitments of such commodity. Such books and records shall show complete details concerning all such transactions, positions, inventories, and commitments, including the names and addresses of all persons having any interest therein, and shall be open at all times to inspection by any representative of the Commission or the Department of Justice. For the purposes of this section, the futures and cash or spot transactions and positions of any person shall include such transactions and positions of any persons directly or indirectly controlled by such person.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Pub. L. 110–234 and Pub. L. 110–246 made identical
Amendments
to this section. The
Amendments
by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246.
Amendments
2008—Pub. L. 110–246, § 13202(b), in introductory provisions, inserted “, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “derivatives transaction execution facility” and, in concluding provisions, inserted “or electronic trading facility” after “board of trade”. 2000—Pub. L. 106–554 inserted “or derivatives transaction execution facility” after “contract market” in introductory provisions. 1983—Pub. L. 97–444 amended section generally by substantially restating provisions and inserting requirement that persons whose transactions and positions in any cash commodity or commodity future are equal to or in excess of amounts fixed by the Commission, must keep books and records of such transactions and positions as well as books and records of any such commodity traded on or subject to rules of any other board of trade, whether or not such person is required to file reports with the Commission concerning such transactions and positions. 1974—Pub. L. 93–463 substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”. 1968—Pub. L. 90–258 required recordkeeping of positions and of cash or spot transactions in commodities entered into, and inventories and purchase and sale commitments of commodities held, in any month in which reports are required to be kept, including details concerning positions, inventories, and commitments, and included controlled transactions and positions in the futures and cash or spot transactions and positions of any person.
Statutory Notes and Related Subsidiaries
Effective Date
of 2008 AmendmentAmendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, except as otherwise provided, see section 4 of Pub. L. 110–246, set out as an
Effective Date
note under section 8701 of this title. Amendment by section 13202(b) of Pub. L. 110–246 effective June 18, 2008, see section 13204(a) of Pub. L. 110–246, set out as a note under section 2 of this title.
Effective Date
of 1983 AmendmentAmendment by Pub. L. 97–444 effective Jan. 11, 1983, see section 239 of Pub. L. 97–444, set out as a note under section 2 of this title.
Effective Date
of 1974 AmendmentFor
Effective Date
of amendment by Pub. L. 93–463, see section 418 of Pub. L. 93–463, set out as a note under section 2 of this title.
Effective Date
of 1968 AmendmentAmendment by Pub. L. 90–258 effective 120 days after Feb. 19, 1968, see section 28 of Pub. L. 90–258, set out as a note under section 2 of this title.
Effective Date
For
Effective Date
of section, see section 13 of act June 15, 1936, set out as an
Effective Date
of 1936 Amendment note under section 1 of this title.
Reference
Citations & Metadata
Citation
7 U.S.C. § 6i
Title 7, Agriculture
Last Updated
Sep 22, 2026
Release point: 119-110