Commodity Futures Trading Commission

COMMODITY FUTURES TRADING COMMISSION

1155 21st Street NW., Washington, DC 20581

Phone, 202-418-5000

Chairperson Brooksley Born

Commissioners Joseph B. Dial, Barbara P. Holum, David D. Spears, John E. Tull, Jr.

General Counsel Daniel R. Waldman

Executive Director Donald L. Tendick, Acting

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The Commodity Futures Trading Commission promotes healthy economic growth, protects the rights of customers, and ensures fairness and integrity in the marketplace through regulation of futures trading. To this end, it also engages in the analysis of economic issues affected by or affecting futures trading.

The Commodity Futures Trading Commission (CFTC) , the Federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (7 U.S.C. 4a). The Commission began operation in April 1975, and its authority to regulate futures trading was renewed by Congress in 1978, 1982, 1986, 1992, and 1995.

The Commission consists of five Commissioners who are appointed by the President, with the advice and consent of the Senate. One Commissioner is designated by the President to serve as Chairperson. The Commissioners serve staggered 5-year terms, and by law no more than three Commissioners can belong to the same political party.

The Commission has five major operating components: the Divisions of Enforcement, Economic Analysis, and Trading and Markets, and the Offices of the Executive Director and the General Counsel.

Activities

The Commission regulates trading on the 11 U.S. futures exchanges, which offer active futures and options contracts. It also regulates the activities of numerous commodity exchange members, public brokerage houses (futures commission merchants), Commission-registered futures industry salespeople and associated persons, commodity trading advisers, and commodity pool operators. Some...