commiss decis decemb relat proceed articl eec treati iv london meat futur exchang limit english text authent eec commiss european commun regard treati establish european econom commun regard council regul februari regul implement articl treati amend act access spain portug articl thereof regard notif applic neg clearanc submit juli relat articl associ rule regul london meat futur exchang limit regard summari notif publish pursuant articl regul consult advisori committe restrict practic domin posit fact london meat futur exchang limit lmfel commod market establish london commod market regulatori organ run committe manag select member aid secretariat power member market rule book market regul element supervis bank england increasingli supervis member assoiat futur broker dealer limit afbd object lmfel set administ termin market london meat product termin market futur market organ facil conclud contract purchas sale commod deliv name futur date futur market develop primarili enabl person involv commod trade protect risk advers price movement lmfel market floor trade price make determin technic question allow deliveri month standard contract term procur provis clear settlement facil trade floor market dealer face ring make bid offer system open outcri intern futur market london princip market intern commod merchandis contribut stabil smooth oper world trade world price mechan rel size lmfel compar import competitor shown annual volum trade lot trade pig meat year london chicago mid america lot pig carcas lmfel contract commenc trade lot lb lot lb contract commenc trade june live cattl cash settlement contract lot kilogram contract settlement meat livestock commiss certifi medium steer price pig contract cash settlement lot kilogram settlement meat livestock commiss averag pig price respect contract deal gener month forward month decemb deliveri month contract trade lmfel regist intern commod clear hous limit icch independ servic compani clear settlement facil lmfel icch substanti capit reserv wholli own clear bank princip function icch maintain organ daili clear trade provid guarante due fulfil contract accord rule lmfel clear member name contract regist class membership lmfel class consist vote member floor member allow trade floor market rule set limit number floor member present floor member class member coinsist vote member associ member number similarli limit criteria articl floor member requir applic membership meet financi requir detail statement criteria forc time applic obtain secretari floor member applic satisfi committe activ interest trade meat carri busi properli establish offic unit kingdom floor member member icch regist contract icch return fee guarante perform contract associ member compani firm continu interest product process trade consumpt meat continu trade interest market floor membership transfer provid transfere elect accord articl associ membership transfer committe requir give reason take decis affect member right membership appeal procedur appli committe refus applic membership refus grant permiss transfer membership determin floor member transfer floor membership refus approv chang directorship partnership natur busi legal statu benefici ownership member procedur appli committe suspend member dai refus reinstat member expel member determin membership ceas case candid member dissatisfi committe decis candid member committe reconsid decis make represent suppli inform consid relev rule requir member gener member associ futur broker dealer limit afbd requir mandatori member member excus obligaiton floor member place busi unit kingdom engag busi exclus account behalf relat compani fall categori member excus membership afbd afbd afbd regulatori organis sro expect recogn secur invest board sib set anticip financi servic act stipul person allow carri invest busi unit kingdom author person exempt person member lmfel author virtu member afbd order member afbd applic fulfil qualit criteria reflect afbd primari object promot maintain system supervis conduct busi commod financi futur broker dealer view protect interest client criteria relat suitabl member financi busi stand elig respect reliabl train experi financi resourc contract trade floor market floor member made free commiss commiss charg contract member member member rate commiss freeli negoti provis made addit commiss meat tender fulfil contract deliver clear member icch contract regist extra commiss freeli negoti paid clear member contract regist icch ii legal assess notifi rule regul lmfel consid agreement mean articl eec treati rule regul lmfel account represent made commiss relat termin market london commiss grant neg clearanc rule associ decis eec sugar eec cocoa eec coffe eec rubber rule provid busi conclud floor market floor member transact free commiss commiss charg transact member member member commiss believ oblig appreci restrict competit entail oblig charg commiss refer commiss charg complet freedom exist negoti actual commiss rate result represent commiss amend made rule membership membership open criteria applic membership judg object fact paragraph committe requir give reason take decis affect member right membership protect right actual potenti member appeal procedur introduc public offici journal european commun pursuant articl regul elicit represent articl associ rule regul lmfel outlin claus constitut appreci restrict competit common market commiss basi fact possess ground action articl commiss issu neg clearanc pursuant articl regul adopt decis articl basi fact possess commiss ground action articl eec treati respect articl associ rule regul london meat futur exchang limit notifi juli articl decis address london meat futur exchang limit regist offic baltic exchang chamber st mari ax london ec ep unit kingdom brussel decemb commiss peter sutherland member commiss oj oj oj oj oj oj