The CFTC is the independent federal agency that oversees the U.S. derivatives markets, including futures, options, and swaps. It works to protect market participants from fraud, manipulation, and abusive practices and to keep these markets transparent and financially sound. It regulates the exchanges, clearinghouses, brokers, and traders who buy and sell these contracts.
Created by Congress under the Commodity Futures Trading Commission Act of 1974 (amending the Commodity Exchange Act) (Pub. L. No. 93-463, 88 Stat. 1389 (signed Oct. 23, 1974); codified at 7 U.S.C. ch. 1 (Commission established at 7 U.S.C. Sec. 2(a)(2))), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.
