Salomon Forex, Inc. v. Tauber

OPINION

NIEMEYER, Circuit Judge:

This appeal, taken from the district court’s enforcement of a trading debt, squarely presents the issue of whether professional traders may individually negotiate sales of foreign currency futures and options off organized exchanges without violating the Commodities Exchange Act, 7 U.S.C. § 1, et seg. Finding that the Act is inapplicable to such trading and that there are no other defenses to enforcement of the debt in question, we affirm the judgment of the district court.

I

Over the course of 2-j£ years Dr. Laszlo N. Tauber, a surgeon from northern Virginia,…