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OED staff formulate the agency's budget, supervise the allocation and use of agency resources, promote management controls and financial integrity, and develop and maintain the agency's automated information systems.
The Office of Proceedings, which is under the administrative direction of OED, provides an inexpensive and expeditious forum for handling customer complaints against people or firms registered with the National Futures Association NFA through its reparations program. The Office of Proceedings also hears and decides enforcement cases brought by the Commission.
It is responsible for recording and monitoring the trading of futures contracts on United States futures exchanges. The CFTC has the authority to fine, suspend, or sue the company or individual in a federal court in cases of misconduct, fraud , or if a rule breaking occurs.
The CFTC publishes weekly reports containing details of holdings for market-segments, which have 20 or more reportable participants. The reports are released every Friday including data from the previous Tuesday and contain data on open interest split by reportable and non-reportable open interest as well as commercial and non-commercial open interest.
The CFTC is authorized to regulate commodity pools and commodity trading advisors. Many hedge funds operate as commodity pools. In an address to the Securities Industry Association in , Sharon Brown-Hruska, acting director of the CFTC, said that 65 of the top hedge funds in were commodity pools, and 50 out of the largest hedge funds were CTAs in addition to being commodity pools.
I'm an enforcement guy and I did investigations and brought cases for a number of years. I understand what folks in enforcement are looking for. Whistleblower complaints have no intrinsic value. When they're just sitting here with me, they just don't mean anything. They're valuable to the enforcement division so that they can bring investigations.
And continues to explain "The information, however, can be about conduct that happened at any time". A whistleblower may receive a reward of between percent of the total sanctions imposed.
Unlike the other four main financial regulators, the CFTC does not have self-funding. A transaction fee has been "requested" for several years but Congress has not taken any legislative action.
During the government shut down in October , SEC and Federal Reserve stayed open, but "futures and most swaps markets were left with essentially no cop on the beat". O'Malia dissented from the FY spending plan saying that it did not allocate enough funding to new technology investments, but allocated too much to swap dealer oversight, duplicating the work of the self-regulatory National Futures Association. From Wikipedia, the free encyclopedia.
Commodity Futures Trading Commission Official seal. Christopher Giancarlo , Chairman. Retrieved 23 April Olsen US 1 Journal of Futures Markets. Financial derivatives, liberal states and transformative capacity PDF. Retrieved 13 March An Overview of U. Retrieved 14 March Retrieved February 20, Rules to Curb Commodities Speculation".
Retrieved May 3, New energy for America" PDF. Archived from the original PDF on October 17, Retrieved 27 December Retrieved 11 March Zerega, Thomas Watterson March 12, Commodity Futures Trading Commission. Retrieved 9 August Lowe as Acting Director of Division of Enforcement". Marcus as General Counsel". A Primer for Regulators". Retrieved 24 February Global last year or J. What did we get for it?
Zero," said Kingston, adding, "We're not seeing brilliance. Retrieved from " https: A commodity broker is a firm or individual who executes orders to buy or sell commodity contracts on behalf of clients and charges them a commission.
A firm or individual who trades for his own account is called a trader. Commodity contracts include futures , options , and similar financial derivatives.
Clients who trade commodity contracts are either hedgers using the derivatives markets to manage risk, or speculators who are willing to assume that risk from hedgers in hopes of a profit. Ever since the s, the majority of commodity contracts traded are financial derivatives with financial underlying assets such as stock indexes and currencies. When executing trades on behalf of a client in exchange for a commission he is acting in the role of a broker. When trading on behalf of his own account, or for the account of his employer, he is acting in the role of a trader.
Floor trading is conducted in the pits of a commodity exchange via open outcry. A floor broker is different than a "floor trader" he or she also works on the floor of the exchange, makes trades as a principal for his or her own account.
IBs do not actually hold customer funds to margin.