Futures Trading Act of 1978

[AI summary unavailable — showing source text] Amends the Commodity Exchange Act to: (1) extend the authority of the Commodity Futures Trading Commission through September 30, 1983; (2) provide for appointment of the Commission Chairman by the President, to serve at the President's pleasure; and (3) prohibit options trading until such time as the Commission can document to Congress its ability to regulate specified options transactions successfully, and 90 calendar days pass without disapproval by either House of the proposed regulations. Grants immunity from prosecution to witnesses claiming self incrimination who testify before the Commodity Futures Trading Commission.…