Which of the Following Statements Is Incorrect Regarding Organized Exchanges

Which of the following statements is incorrect regarding organized exchanges trading financial futures contracts?

A) Organized exchanges establish and enforce rules for the trading of financial futures contracts.
B) Organized exchanges ensure that the seller of the futures contract always delivers the securities covered by the contract, whether the contract was settled prior to the settlement date or not.
C) Organized exchanges clear, settle, and guarantee all transactions that occur on their exchanges.
D) The operations of financial futures exchanges are regulated by the Commodity Futures Trading Commission (CFTC) .
E) All of the above are correct.