commiss decis decemb relat proceed articl eec treati iv gafta soya bean meal futur associ 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 april relat articl associ rule regul gafta soya bean meal futur associ limit regard summari notif publish pursuant articl regul consult advisori committe restrict practic domin posit fact gafta soya bean meal futur associ limit somfa 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 associ futur broker dealer limit afbd object somfa set administ termin market london soya bean meal 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 somfa 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 somfa compar import competitor shown annual volum trade tonn trade soya bean meal year london chicago tonn hong kong tonn mid america tonn data london includ tonn soya bean meal contract commenc trade current contract tonn sterl soya bean meal contract trade decemb tonn dollar soya bean meal contract trade juli august contract trade soya bean meal market tonn multipl tonn soya bean meal pellet qualiti defin detail rule somfa rule contract deliveri tonn store approv somfa feder republ germani belgium netherland unit kingdom seller option quotat year ahead month trade decemb februari april june august octob contract trade somfa regist intern commod clear hous limit icch independ servic compani clear settlement facil somfa icch substanti capit reserv wholli own clear bank princip function icch maintain organ daili clear trade provid guarante due fulfil contract accord rule somfa clear member name contract regist class membership somfa class vote member floor member floor member allow trade floor market rule set limit number floor member class vote associ member consist trade associ member gener associ member number similarli limit vote member pass contract floor member criteria articl floor member requir applic membership meet financi requir detail statement criteria forc time applic obtain secretari floor member applic satisfi committe carri busi properli establish offic london activ interest trade soya bean meal firm compani princip place busi member countri eec elig floor membership floor member member icch regist contract icch return fee guarante perform contract trade associ member compani firm continu interest product trade consumpt physic soya bean meal gener associ member consist compani firm continu trade interest soya bean meal futur market floor membership transfer provid transfere elect accord articl associ membership transfer accord somfa rule committe requir give reason take decis affect member right membership appeal procedur appli committe refus applic membership refus grant permiss transfer 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 oblig floor member place busi uk engag busi exclus account behalf relat compani fall categori member excus membership afbd afbd afbd regulatori organ sro expect recogn secur invest board sib set anticip financi servic act stipul person allow carri invest busi uk author person exempt person member somfa 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 rule provid commiss charg member transact effect parti parti member rate commiss freeli negoti member adopt posit adjac trade month straddl execut commiss provid posit close simultan ii legal assess notifi rule regul somfa consid agreement mean articl eec treati articl rule regul somfa drawn take account represent commiss relat termin market london commiss grant neg clearanc respect rule associ decis eec sugar eec cocoa eec coffe eec rubber rule regul origin notifi minimum net rate commiss charg member rule rate commiss vari pai receiv commiss contract regist client rate cheaper contract regist client icch lower payer full member payer associ member highest rate commiss appli payer member rule rate commiss minimum net rate charg member portion commiss return member client agent shape form directli indirectli committe power examin suspect infring power suspend expel offend member commiss consid system minimum commiss rate form price fix violat articl eec treati somfa request abandon system fix minimum rate system complet abolish refer system rule regul delet rule provid commiss charg member transact effect parti parti member rate commiss freeli negoti 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 somfa 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 gafta soya bean meal futur associ notifi april articl decis address gafta soya bean meal futur associ limit regist offic baltic exchang chamber st mari ax london ec ep unit kingdom brussel decemb commiss peter sutherland member commiss oj oj gafta mean grain feed trade associ oj oj oj oj