Commodity Futures Trading Com- mission

A commission created by Congress in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The CFTC protects market participants against manipulation, abusive trade practices, and fraud. The CFTC has five commissioners who are appointed by the U.S. president to five-year terms and confirmed by the Senate. One of the commissioners is appointed by the president to be the chairperson.