106 STAT. 3592 PUBLIC LAW 102-546—OCT. 28, 1992 orders for such customer, notwithstanding the regulations to prohibit the privilege of dual trading required under this paragraph, and "(iv) other measures reasonably designed to accommodate unique or special characteristics of individual boards of trade or contract markets, to address emergency or unusual market conditions, or otherwise to further the public interest; "(C) shall establish procedures for the application for and issuance of exemptions under paragraph (3) which, among other things, shall specify the relevant data required to be submitted by the board of trade with each application; "(D) shall specify the methodology by which it shall determine the average daily trading volume on a contract market for purposes of paragraph (4) based on a moving daily average of either six or twelve months; and "(E) shall establish an expeditious procedure to revoke an exemption granted under paragraph (3) providing sufficient notice, opportunity for hearing, and findings to assure fundamental fairness. "(2) As used in this section, the term 'dual trading* means the execution of customer orders by a floor broker during any trading session in which the floor broker executes any trade in the same contract market for— "(A) the account of such floor broker; "(B) an account for which such floor broker has trading discretion; or "(C) an account controlled by a person with whom such floor broker is subject to trading restrictions under section 4j(d). "(3) The Commission shall exempt a contract market from the regulations issued under paragraph (1), either unconditionally or on stated conditions (including stated periods of time) relevant to the attainment or maintenance of compliance with the standards in subparagraphs (A) and (B), upon finding that— "(A) the trade monitoring system in place at the contract market satisfies the requirements of section 5a(b) with regard to violations attributable to dual trading at such contract market; or "(B)(i) there is a substantial likelihood that a dual trading suspension would harm the public interest in hedging or price basing at such contract market, and "(ii) other corrective actions, such as those described in section 8e, are sufficient and appropriate to bring the contract market into compliance with the standard in subparagraph (A). "(4)(A) The regulations issued by the Commission under paragraph (1) shall not apply to any contract market in which the Commission determines that the average daily trading volume is less than the threshold trading level established for the contract market under this paragraph. "(B) The threshold trading level shall be set initially at eight thousand contracts. "(C) The Commission may, by rule or order— "(i) increase, or "(ii) at any time following the date three years aft«r the date of enactment of this paragraph, decrease,
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