Futures Commission Merchant

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Futures commission merchant (FCM)

A firm or person engaged in soliciting or accepting and handling orders for the purchase or sale of futures contracts, subject to the rules of a futures exchange and, who, in connection with such solicitation or acceptance of orders, accepts any money or securities to provide margin for any resulting trades or contracts. The FCM must be licensed by the CFTC. Related: Commission house, omnibus account.

Futures Commission Merchant

A broker or brokerage on a futures exchange. A futures commission merchant receives and executes orders on behalf of clients and extends credit for margin transactions. It is also called a commodity broker.

futures commission merchant (FCM)

A firm that carries out futures transactions for another party. Essentially, futures commission merchants are to futures trading what ordinary brokerage firms are to stock and bond trading. Some futures commission merchants are full-line brokerage firms in which futures trades make up only a small part of their business. Also called commodity brokerage firm, futures commission firm.

Futures Commission Merchant (FCM).

A futures commission merchant (FCM) is a person or a firm that acts as an agent to execute buy or sell orders for futures contracts or commodity options.

You may open an account directly with an FCM or place your orders through an introducing broker or commodity trading adviser.

References in periodicals archive ?
Islamabad -- The SECP has organized three awareness sessions for the securities and commodities brokers, insurance/takaful companies and non-banking finance companies in Karachi.
ISLAMABAD -- The Security and Exchange Commission of Pakistan (SECP) has organized three awareness sessions for the securities and commodities brokers, insurance/takaful companies and non-banking finance companies in Karachi.
ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has organised three awareness sessions for the securities and commodities brokers, insurance/takaful companies and non-banking finance companies in Karachi.
If brokers are afraid of anything, it's that ACA has forced business owners to take their health care spending more seriously and they're looking for more than the price-based commodities brokers have been pushing for decades (aka their comfort zone).
Investment banks, broker-dealers, commodities brokers, casinos, money transmitters, payment processors and mutual funds are all subject to the BSA.
The banking and finance industry can be divided into five groups: commercial banks, nondepository credit institutions (lenders), securities and commodities brokers and dealers, insurance, and real estate.
The board's approval of the draft regulations is part of the SCA's efforts to improve the performance standards of securities and commodities brokers and broker dealers and to boost their expertise in the management of the risks involved in their activities, including credit risk, market risk and operational risk.
"Most traditional instruments use the balance sheet, and because they're based on commodity murabahas they entail having to pay fees for commodities brokers," Khan said.
While the proposed rules and guidance focus on depository institutions, securities broker-dealers, mutual funds, futures commission merchants and commodities brokers, they could have broader implications for mortgage bankers as FinCEN is seeking comment on whether the guidance should be applied to other financial institutions subject to the anti-money-laundering SAR mandate.
commodities brokers, according to Alimport figures, but still too little to fill the gap created by a 20percent drop in domestic production.
Although the industry has taken a hit due to the economic downturn as well as the events of September 11 (particularly in New York City), Wall Street is calling up another quarter million brokers who are currently studying to pass the General Securities Registered Representative Examination (Series 7 exam), the standard test that licenses stocks and commodities brokers.
Other interesting professions included education administrators, who averaged $55,270 in annual salaries; communications, transportation and utilities operations managers ($61,810); computer programmers ($47,080); psychologists ($52,570); lawyers ($44,190); physicians and surgeons ($104,930); dentists ($117,770); real estate brokers ($52,440); securities and commodities brokers ($81,300) and insurance adjusters ($39,390).