The Commodity Futures Trading Commission (CFTC) is an independent agency of the United States Government, created by Congress in 1974. It is responsible for recording and monitoring the trading of futures contracts on United States futures exchanges. The CFTC has the authority to fine, suspend, or sue the company or individual in a federal court in cases of misconduct, fraud, or if a rulebreaking occurs.
The CFTC publishes weekly reports containing details of holdings for market-segments, which have more than 20 participants. The reports are released every Friday (including data from the previous Tuesday) and contain data on open interest split by reportable and non-reportable open interest as well as commercial and non-commercial open interest. This type of report is referred to as 'Commitments-Of-Traders'-Report, COT-Report or simply COTR.
The Securities and Exchange Commission (SEC) and the CFTC have often fought turf battles on who could regulate which markets and products. For example, futures contracts on single stocks were banned from the United States for approximately 20 years because the two agencies could not agree on regulatory jurisdiction for the products. In December 2000, Congress passed the Commodity Futures Modernization Act of 2000, which instructed the agencies to develop a joint regulatory regime for single-stock futures, and the products subsequently began trading in November 2002.
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Commodity Futures Trading Commission".