The authority shall have the powers and duties to፡-

1. Grant or withdraw recognition of any Clearing Institutions:

2. Grant or withdraw recognition of any Exchange Actors;

3. Formulate directives concerning regulation of a Commodity Exchange, Clearing Institutions and Exchange Actors and to exercise its power of examination and approval or verification of the same

4. Regulate the conduct of investment advisors, consulting companies, law practices, accounting professionals, as it relates to a Commodity Exchange’s business

5. Issue directives on the specifications, sale and purchase principles of any Exchange traded contracts

6. Regulate the clearing and settlement of Exchange trade contracts

7. Take appropriate measure to prevent insider trading, fraudulent and unfair trade practices relating to Exchange traded contracts

8.Determine the principles related to independent auditing operations as they relate to Exchange transaction, in consultation with the Federal Auditor General

9/ inspect financial statements, reports and other documents it obtained or submitted to it in accordance with provisions of this proclamation, to request reports from a commodity Exchange,

clearing Institutions, Exchange Actors, and internal and independent auditors;

10/ investigate and act upon violations of laws concerning the regulation of a Commodity Exchange and related businesses;

11/ issue directives on the rules and principles relating to supervisions, rights and duties of those who shall be employed at a Commodity Exchange;

12/ approve the dispute settlement rules and procedures of a Commodity Exchange;

13/ levy fees and charges related to the regulation of a Commodity Exchange and recognition and regulation of Exchange Actors, Clearing Institutions and Exchange Actors Associations, as prescribed by its directive;

14/ promote public education regarding a Commodity Exchange and related businesses; and

15/ liaise and collaborate with appropriate public and private bodies.