Government has noticed the Commodity Exchange Act(bill) aiming formation and transparency of commodities market on September 30, 2011. The purpose of Commodity Exchange Act(bill) makes the production and distribution of commodities active with enhanced the price formation and fairness of the commodities market, and contributes the development of national economy through sound breeding of commodities business. With enacting the Commodity Exchange Act(bill), it is predicted that unlawful deal will be reduced via standardized commodities deal of commodity exchange and commodities market will be in line of global standardization by simplifying distribution process. The ground of enacting the Commodity Exchange Act(bill) in legislative policy has been in the underdeveloped in present gold bar market. The policy departed for the advanced distribution, on the way of policy discussion, has headed to the development of distributional structure of commodities including gold bullion, except for the security. Government has set the direction of policy to the advancement of distributional structure of commodities with establishing commodity exchange in the ways to use fully the principle of free markets under the constitution and to minimize the regulatory in order to promote distribution structure of commodities. Although the Commodity Exchange Act(bill) could be enacted, it is not easy to introduce commodity exchange fully at all times. The reasons are primarily lack of quality control system etc. about production traded in commodity exchange, its fundamental structure, and confidence in the market price formed. Additional reasons are below: the participation motivate is limited due to the oligopoly market in the case of some industries, and social atmosphere is concerning about the revenue(or the sales) exposure through trade in the commodity exchange. In the case of the foreign countries having commodity exchange advanced, a future market has grown with commodity exchange as the center based on know-how accumulated in the spot trading. It is difficult to form the future market actually in our country, because our country has not yet established the foundation of the gold spot market advanced. In case of the Korea, gold future market was introduced as a first ``commodities-based derivatives`` in 1999, but its transactions has been inactive due to the unlawful spot market and lack of participation with the spot trader. Therefore, it needs the strategy to foster the spot market and the future market at the same time in the long term. The key task of the Commodity Exchange Act(bill) is to provide the system in order to trade commodities in the exchange actively. The system of the exchange should be consisted of systems of trust, trading, clearing and monitoring, and each system should work by chaining method. The trust system regulates the settlement between clients and members, and provides the rules of manner and process which the truster trusts the members of commodity exchange for trading, including opening of the account, manner of trust, customer margin and fees etc. Opening of the account means that members set up an account of trading with truster in advance. When setting up the account, it is appropriate for members to standardize the contents of contracts applied. And it is necessary for members to specify the manner of trust such as a trust of documents from the truster. Another important issue of the trading system lies in the regulation relevant to running the market. Regulations of matters on running market include trading hours, trading date(closed), quantities unit of trading, order unit of quote, type of orders (quotes), band of price limit, and base price etc., and is decided by regulations of the Exchange. The matters relating to the trading in the Exchange contain principal of transaction(the price/ time/ the principle of priority allocation quantity) and manner of sale transaction(individual competitive sales, concurrent quotes, on-line transaction) etc., and is regulated by regulations of the Exchange. In addition, the Exchange should provide regulations about halt and resume in trading, short-selling regulation, correcting a mistake trading etc. for the market management. Currently the system of clearance and settlement are regulated under the Article 378 paragraph (1) in ``Financial Investment Services and Capital Markets Act``. The system of clearance and settlement confirms the claims/obligation. And It describes clearance such as settlement order and to one`s performance liability, and settlement such as manner of settlement and processing of failure to that. Above one contains trading confirmation, dischargable loan assumption, net balance delivery and firming settlement gold·payment, notice of settlement history, delivery settlement gold or payment between Exchange and members, (to transfer center) settlement oder or accounts transfer, clearing house`s notice to the Exchange for settlement performance or not. When the Gold Exchange being established according to the Commodity Exchange Act(bill), we can ensure liquidity enough to do direct trading, expand investment vehicles for people, and improve response ability over national economical crisis by the accumulation of national wealth. It is necessary that commodity entrepreneurs take part in the market, and the government provide incentives such as tax reform including VAT-exempt for active transaction, in order to let the Commodity Exchange Act(bill) work properly for the purpose of legislation which the distribution structure of gold will be active by the Gold Exchange.