A bill to amend the Commodity Exchange Act to provide for uniform regulation of leverage and futures transactions.

Amends the Commodity Exchange Act to provide that prior to January 1, 1988, no person shall execute any nonmargin commodity transactions under a standardized contract unless such person has been approved by the Commodity Futures Trading Commission as a leverage transaction merchant. (Exempts registered associates of registered leverage transaction merchants from such requirement.)

Provides that on or after January 1, 1988, no person shall enter into such a transaction unless the transaction is conducted subject to the rules of a board of trade designated by the Commission as a contract market.