Commodity Futures Trading Commission

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Commodity Futures Trading Commission (CFTC)

An agency created by the US Congress in 1974 to regulate exchange trading in futures.

Commodity Futures Trading Commission

A commission of the United States Government created in 1974 to regulate the market for futures contracts. It consists of five commissioners appointed by the President and confirmed by the Senate. Among other duties, the CFTC regulates the settlement of derivatives, oversees derivative exchanges, and sets and enforces rules on trading derivatives. It also works with the SEC to regulate futures contracts on single stocks. Futures traders and investment advisers must register with the CFTC as commodity trading advisers.

Commodity Futures Trading Commission (CFTC)

A federal agency, established in 1974, that regulates and supervises the trading of commodity futures and commodity options. Additional regulation is effected by the exchanges on which the contracts are traded. Compare National Futures Association.

Commodity Futures Trading Commission (CFTC).

The CFTC is the federal agency that regulates the US futures markets, as the Securities and Exchange Commission (SEC) regulates the securities markets.

The agency's five commissioners are appointed by the US president for staggered five-year terms.

The agency is responsible for maintaining fair and orderly markets, enforcing market regulations, and ensuring that customers have the information they need to make informed decisions.

Commodity exchanges also regulate themselves, but any changes they want to make must be approved by the CFTC before they go into effect.

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References in periodicals archive ?

The Commodity Futures Trading Commission approved a similar expansion for stock index futures and options contracts on the Chicago Mercantile Exchange, the Kansas City Board of Trade and the New York Futures Exchange.

SEC OKS REVISED LIMITS TO CURB MARKET DROPS

In the United States, before the passage of the Futures Trading Practices Act of 1992 and subsequent regulatory action by the Commodity Futures Trading Commission (CFTC), the exchange-trading restriction of the Commodity Exchange Act had raised serious concerns about the legal enforceability of many OTC derivatives contracts.

Statement by Susan M. Phillips, Member, Board of Governors of the Federal Reserve System before the Committee on Banking, Finance and Urban Affairs, U.S. House of Representatives, October 28, 1993

Commodity Futures Trading Commission opened an investigation in November of Long Beach deliveries and withdrawals that continues today, Metro International's president, William Whelan, said Monday.

LONG BEACH WAREHOUSE CENTER STAGE IN SCANDAL

Of the efforts taken to date, I should comment on the significant progress made in improving communications among the agencies involved in the surveillance effort--the Bank, the Treasury, the SEC, the Federal Reserve Board, and the Commodity Futures Trading Commission.

Statement by William J. McDonough, Executive Vice President, Federal Reserve Board of New York, before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, U.S. House of Representatives, March 17, 1993

Tull, the acting commissioner of the Commodity Futures Trading Commission, said that the agency's investigation of the Sumitomo scandal included Credit Lyonnais, the French bank, a unit of which acted as a broker for Winchester Commodities Group Ltd.

U.S. FIRM INVESTIGATED IN SUMITOMO SCANDAL

Nonetheless, while the Board believes that federal oversight is necessary, we have been of the view that this authority should rest with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).

Statements to Congress

In other areas, Nasdaq claims to have undertaken major reforms by hiring a new chief regulator, Mary Schapiro, the well-respected former chief of the Commodity Futures Trading Commission.

NASDAQ'S REFORMS FALL SHORT, SOME MARKET CRITICS SAY

In contrast, the Commodity Futures Trading Commission requires the firms to let commodities investors not agree to arbitration.

PANEL OUTLINES ARBITRATION REFORM\Proposals for brokers include setting award cap, curtailing appeals