Commodity options and futures trading commission wikipedia
In the United States, trading of futures contracts for agricultural commodities dates back to at least the s. Following amendments in , this law was replaced by the Commodity Exchange Act. In July , the definition of commodity pool operator under the Commodity Exchange Act was expanded by the Dodd-Frank Wall Street Reform and Consumer Protection Act to include "persons operating collective investment vehicles that trade swaps".
Prior to this, swaps were not included in the CPO definition. Prior to , commodity pool operators were unregulated except for limited requirements to maintain records. In , the CFTC adopted the first comprehensive regulation for commodity pool operators, which was later strengthened by additional rules in and , increasing the CFTC's oversight of such entities. These include two new forms of data collection. From Wikipedia, the free encyclopedia. Hedge Funds and Other private Funds: Regulation and Compliance Edition.
Cornell University Law School. Retrieved 7 June Retrieved 4 June Washington and Lee Law Review. Retrieved 29 May Commodity Futures Trading Commission. Retrieved 15 May Retrieved 13 June It is collated by the CFTC from submissions from traders in the market and covers positions in futures on grains, cattle, financial instruments, metals, petroleum and other commodities. The exchanges that trade futures are primarily based in Chicago and New York.
Eastern Time , and the report reflects the commitments of traders on the prior Tuesday. The report was first published in June , but versions of the report can be traced back to as early as when the U. The weekly report details trader positions in most of the futures contract markets in the United States.
Data for the report is required by the CFTC from traders in markets that have 20 or more traders holding positions large enough to meet the reporting level established by the CFTC for each of those markets. The report provides a breakdown of aggregate positions held by three different types of traders: As one would expect, the largest positions are held by commercial traders that actually provide a commodity or instrument to the market or have bought a contract to take delivery of it.
Thus, as a general rule, more than half the open interest in most of these markets is held by commercial traders. There is also participation in these markets by speculators that are not able to deliver on the contract or that have no need for the underlying commodity or instrument.
They are buying or selling only to speculate that they will exit their position at a profit, and plan to close their long or short position before the contract becomes due.