• The Commodity Futures Trading Commission is the federal agency created by Congress to regulate futures trading. The Commodity Exchange Act of 1974 became effective April 21, 1975. Previously, futures trading had been regulated by the Commodity Exchange Authority of the USDA.
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| ||Floor broker: Is a member of an exchange who executes orders for others. This compares to a Floor Trader.A member who is paid a fee for executing orders for clearing members or their customers. A floor broker executing customer orders must be licensed by the Cftc.|
| ||Futures commission merchant: 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 margin any resulting trades or contracts. The FCM must be licensed by the Cftc. Related: commission house , omnibus accountIs a firm which is registered to do customer business in the futures and options on-futures business. This customer business relates to the taking of orders for contract execution.|
| ||Registered representative: A person registered with the Cftc who is employed by, and soliciting business for, a commission house or futures commission merchant.|
Managing Your Expenses on a Fixed or Reduced Income: Once you've retired, you finally have the opportunity to work at your dream job - keeping yourself happy. It's your chance to visit places you've always wanted to see, take up a new hobby and spend more time with your family and friends. But to be successful at this new position, you've got to make the most of your income and investments. Here are suggestions. More...
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful. - Herman Cain