Commodity Futures Trading Commission (CFTC)

The CFTC is made up of five commissioners appointed by the President with the advice and consent of the Senate¹. The CEA gives the CFTC exclusive jurisdiction over futures and swaps that are traded or executed on a designated contract market, a swap execution facility, or another exchange or market. There are exceptions, including those in Title VII of the Dodd-Frank Act².

The CFTC regulates swaps that are not security-based, and the Securities and Exchange Commission (SEC) regulates security-based swaps. The division of roles between the two agencies is covered in the article "The Roles of the CFTC and SEC".

Notes

1. 7 U.S.C. § 2(a)(2)(A). Establishes the CFTC as an independent executive agency, with five commissioners appointed by the President with the advice and consent of the Senate. ↩

2. 7 U.S.C. § 2(a)(1)(A). The CFTC's exclusive jurisdiction and its exceptions. ↩