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Commodity Futures Trading Commission

4 bytes removed, 19:13, 4 June 2014
/* History */
== History ==
Congress created the CFTC in with the [[Commodity Futures Trading Commission Act of 1974]] as an independent agency with the mandate to [[regulate]] [[commodity]] [[futures trading|futures]] and [[option]]s markets in the United States. (Prior to that time, futures markets were regulated by the [[Commodity Exchange Authority]] ([[CEA]]), a division of the [[U.S. Department of Agriculture]]). The CFTC's mandate has been renewed and expanded several times since 1974, most recently by the [[Commodity Futures Modernization Act of 2000]] ([[CFMA]]).<ref>{{cite web|name=Washington Watch|url=|org=Futures Industry Magazine|date=February 22, 2008}}</ref> In May of 2008, the U.S. Congress reauthorized the CFTC through the Fiscal Year 2013. On July 21, 2010, U.S. President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act ([[Dodd-Frank Act]]), which expanded the CFTC's jurisdiction and authorities.
Today, the CFTC assures the [[economic]] utility of the [[futures]] markets by encouraging their competitiveness and efficiency, ensuring their integrity, protecting market participants against [[manipulation]], abusive [[trading]] practices, and [[fraud]], and ensuring the financial integrity of the [[clearing]] process. Through effective oversight, the CFTC enables the futures markets to serve the important function of providing a means for [[price discovery]] and [[offset]]ting [[price risk]].