CFTC-LogoCommodity Futures Trading Commission

The U.S. Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates futures and option markets.

The stated mission of the CFTC is to foster open, transparent, competitive, and financially sound markets, to avoid systemic risk, and to protect the market users and their funds, consumers, and the public from fraud, manipulation, and abusive practices related to derivatives and other products that are subject to the Commodity Exchange Act.[3] After the Financial crisis of 2007–2008 and since 2010 with the Dodd–Frank Wall Street Reform and Consumer Protection Act, CFTC has been transitioning to bring more transparency and stricter regulation to the multitrillion dollar swaps market.

Responsibilities

The CFTC assures utility of the futures markets by encouraging their competitiveness and efficiency, ensuring their integrity, protecting market participants against manipulation, abusive trading practices, and fraud, and ensuring the financial integrity of the clearing process. The CFTC like the SEC, does not directly regulate the safety and soundness of individual firms, with the exception of newly regulated swap dealers and major swap participants, for whom it sets capital standards pursuant to Dodd-Frank.[13] Through oversight, the CFTC enables the futures markets to serve the function of price discovery and offsetting price risk.

Organization

Based in Washington, D.C., the CFTC maintains regional offices in Chicago, New York and Kansas City, Missouri. The Commission consists of five Commissioners appointed by the President of the United States to serve staggered five-year terms. The President, with the consent of the United States Senate, designates one of the Commissioners to serve as Chairman. No more than three Commissioners at any one time may be from the same political party.


Primary exchanges monitored:

  • Chicago Board Options Exchange
  • Chicago Board of Trade
  • Chicago Mercantile Exchange
  • COMEX
  • Kansas City Board of Trade
  • Minneapolis Grain Exchange
  • North American Derivatives Exchange
  • New York Mercantile Exchange
  • New York Board of Trade
  • OneChicago

Website - www.cftc.gov