The Commodity Futures Trading Commission known as CFTC is an independent financial agency from US that was created in 1974 and that regulates futures and option markets. The jurisdiction of the agency is the Federal government of United States. The company headquarters are at 1155 21st Street, NW, Washington, D.C.
Based in Washington, D.C., the CFTC maintains regional offices in Chicago, New York and Kansas City, Missouri. The Commission consists of five Commissioners appointed by the President to serve staggered five-year terms. The President, with the consent of the United States Senate, designates one of the Commissioners to serve as Chairman. No more than three Commissioners at any one time may be from the same political party.
The stated responsibility of CFTC is to protect markets users and the public from manipulation, fraud and abusive practice that involves sale of commodity and financial futures and options. CFTC has been transitioning to bring more transparency and stricter regulation to the multitrillion dollar swaps market.