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GELDERMANN, INC. v. C.F.T.C.

No. 87-1312.

836 F.2d 310 (1987)

GELDERMANN, INC., Plaintiff-Appellee, and Board of Trade of the City of Chicago, Intervening-Appellee, v. COMMODITY FUTURES TRADING COMMISSION, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided December 22, 1987.

Attorney(s) appearing for the Case

Mary C. Albert, C.F.T.C., Washington, D.C., for defendant-appellant.

Donald P. Colleton, Ruberry Phares Abramson & Fox, Scott E. Early, Chicago, Ill., for plaintiff-appellee.

Before BAUER, Chief Judge, CUMMINGS and POSNER, Circuit Judges.

CUMMINGS, Circuit Judge.

The question presented by this appeal is whether the Commodity Exchange Act ("CEA" or "Act"), 7 U.S.C. § 1 et seq., dictates that the Commodity Futures Trading Commission ("CFTC" or "Commission") promulgate rules requiring commodity exchange members to submit to customer-initiated arbitration, and, if so, whether such a requirement violates Article III of the United States Constitution or the Seventh Amendment. We hold that Congress...

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