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Compliance and Examinations

The Member Regulation Compliance and Examinations Division (MRCE) and the Market Regulation Trading Examination Division (MRTE) conduct routine and for-cause examinations of CHX participant firms. The Exchange is primarily responsible for examining participants for which it is the designated examining authority or DEA. The examination program typically focuses on the following areas:

  1. The financial reporting and soundness of participant firms;
  2. The operational structure and processes of such firms; and
  3. The overall system of supervision of the participant’s principal lines of business, especially the participant’s policies and procedures relating to trading issues.

The Exchange staff is also responsible for receiving and reviewing financial disclosure documents and filings from participant firms. Approval from the staff is also required for the trading permit applications of new participant reorganizations. The staff also may conduct a variety of risk-based reviews of participants relating to any relevant Exchange or SEC rule.