Is futures trading regulated in the U.S.?
U.S. futures trading is regulated through a system of self-regulatory organizations and a federal regulator at three levels: the Commodity Futures Trading Commission, the National Futures Association and the designated futures exchanges. The CFTC is an independent federal agency based in Washington, D.C. that adopts and enforces regulations under the Commodity Exchange Act and monitors industry self-regulatory organizations. The NFA, whose principal office is in Chicago, is an industry-wide self-regulatory organization whose programs include registration of industry professionals, auditing of certain registrants, and arbitration. Each U.S. futures exchange also has self-regulatory obligations with respect to its members and its markets.
