Commodity Exchange Commission Act

[AI summary unavailable — showing source text] Commodities Exchange Commission Act - Establishes a Commodity Exchange Commission, composed of five commissioners appointed by the President by and with the advice and consent of the Senate, as an independent agency in the executive branch of the Government. Transfers specified functions from the Secretary of Agriculture to the Commission and delegates enumerated housekeeping functions to the Chairman. Authorizes the employment of persons without regard to Civil Service laws. Provides, with regard to rules governing registration of Commission merchants and brokers, that if after requesting a contract market to make specified changes in its rules and practices, the contract market has not made the changes, and that such changes are necessary, the Commission may alter the rules of such contract market to effect changes in specified areas. Requires that contract markets serve an economic purpose. Prohibits the acceptance of orders by unregistered associates of futures commission merchants. Provides procedures for registration of such merchants. States that no member of a contract market shall execute any order for future delivery and on the same intentionally enter into any transactio…