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| Commodity
futures trading commission |
The
mission of the Commodity Futures Trading Commission
(CFTC) is to protect the 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.
The Commodity Futures Trading Commission was set up
by the Congress in 1974 as an independent agency with
the mandate to regulate commodity futures and option
markets. The agency's mandate has been renewed and expanded
several times since then, most recently by the Commodity
Futures Modernization Act of 2000 (CFMA).
Today, the Commodity Futures Trading Commission assures
the economic 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.
Through effective oversight, the Commodity Futures Trading
Commission enables the futures markets to serve the
important function of providing a means for price discovery
and offsetting price risk.
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