Definition
CFTC. The federal agency created by Congress in 1974 to regulate futures trading and protect participants against manipulation and fraud, through its administration of the Commodities Exchange Act. The agency is goverened by five Commissioners who are appointed by the President of the United States, and is comprised of a number of operating units with various functions, including the Division of Enforcement and the Office of the Executive Director. The Commodity Futures Modernization Act of 2000 expanded upon the original mandate of the agency, particularly in regards to single-stock futures. The CFTC works closely with the Securities & Exchange Commission, which has led to some power struggles between the two agencies over the years.