Futures Commission Merchant
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(Redirected from FCMs)
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A Futures Commission Merchant (FCM)[1] is an individual or organization that does both of the following:
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- Solicits or accepts orders to buy or sell futures contracts or options on futures, and
- Accepts money or other assets from customers to support such orders.
FCMs are required to be registered with National Futures Association.
SEC-registered broker-dealers that limit their futures-related activities to transactions involving certain types of investments can notice register with NFA as an FCM.
