Commodity Futures Trading Commission
The U.S. Commodity Futures Trading Commission (CFTC) is an independent agency of the United States government that regulates futures and option markets.
The Commodity Exchange Act (CEA), 7 U.S.C. ยง 1 et seq., prohibits fraudulent conduct in the trading of futures contracts. In 1974, Congress amended the Act to create a more comprehensive regulatory framework for the trading of futures contracts and created the Commodity Futures Trading Commission, replacing the Commodity Exchange Authority. The stated mission of the CFTC is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets.
Read more about Commodity Futures Trading Commission: History, Primary Exchanges Monitored
Famous quotes containing the words commodity, futures, trading and/or commission:
“If I’d written all the truth I knew for the past ten years, about 600 people—including me—would be rotting in prison cells from Rio to Seattle today. Absolute truth is a very rare and dangerous commodity in the context of professional journalism.”
—Hunter S. Thompson (b. 1939)
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—Gertrude Stein (1874–1946)
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His house among the local sheds and shanties
Rose like a factor’s at a trading station.”
—Robert Frost (1874–1963)
“It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime.”
—Thomas Paine (1737–1809)