Regulations Governing Managed Futures Enterprises Article 38

When a managed futures enterprise allocates discretionary assets to engage in trades or investments, it shall produce a written decision based on its analysis report and execute that decision.The analysis report referred to in the preceding paragraph shall state the analytical foundation and basis thereof, and the trade or investment recommendation. The written decision shall state the type, quantity, price, and timing of the decided-upon subject trade or investment. The execution record shall state the type, quantity, price, and time of the actual subject transaction, and explain the reason for any discrepancy with the written decision.The written information referred to in the preceding paragraph shall be recorded sequentially, with the signatures and seals of the personnel responsible for analysis, trading decisions, and execution of trades placed thereon, and retained on file.