Chicago Mercantile Exchange v. Deaktor - 414 U.S. 113 (1973)
U.S. Supreme Court
Chicago Mercantile Exchange v. Deaktor, 414 U.S. 113 (1973)
Chicago Mercantile Exchange v. Deaktor
Decided December 3, 1973
414 U.S. 113
Two suits were brought charging petitioner, the Chicago Mercantile Exchange, with, inter alia, violating the Commodity Exchange Act (CEA) and failure to enforce its own rules. The District Court refused petitioner's applications for stays of the suits to permit the Commodities Exchange Commission to determine initially whether the challenged actions comported with the CEA and petitioner's rules. The Court of Appeals affirmed.
Held: The Commission, whose administrative functions appear to encompass adjudication of the charges against petitioner, should pass on those charges in the first instance. Ricci v. Chicago Mercantile Exchange, 409 U. S. 289.
Certiorari granted; 479 F.2d 529, reversed and remanded.