RESTRICTIONS ON TRADING AMONG MEMBERS OF BROKER ASSOCIATIONS.

SEC. 102. RESTRICTIONS ON TRADING AMONG MEMBERS OF BROKER ASSOCIATIONS. (a) In General.—Section 4j (7 U.S.C. 6j) is amended by adding at the end the following new subsection: “(d) (1) Except as provided in paragraph (2), a floor broker may not execute an order of a customer if such floor broker knows the opposite party to the transaction to be a floor broker or floor trader with whom such trader or broker has a relationship involving trading on such contract market as— “(A) a partner in a partnership; “(B) an employer or employee; or “(C) Such other affiliation as the Commission may specify by rule. “(2) Paragraph (1) shall not apply— “(A) if the Commission has adopted rules that the Commission certifies to Congress require procedures and standards designed to prevent violations of this Act attributable to the trading described in paragraph (1); or “(B) to any contract market that has implemented rules designed to prevent violations of this Act attributable to the trading described in paragraph (1), except that, if the Commission determines, by rule or order, that such rules are not adequate to prevent such violations, paragraph (1) shall become effective with respect to such contract market after a reasonable period determined by the Commission.”. (b) Effective Date.—The amendment made by subsection (a) shall become effective two hundred and seventy days after the date of enactment of this Act.