The National Futures Association As Market Watchdog
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NFA is the self-regulatory organization for the U. NFA is a non-profit, independent regulatory organization. NFA does not operate any markets and is not a trade association. NFA operates at no cost to the taxpayer—it is financed exclusively from membership dues and assessment fees.
The same legislation authorized the creation of "registered futures associations," giving the futures industry the opportunity to create a nationwide, self-regulatory organization. NFA began operations in Congress passed legislation in and requiring firms acting as counterparties to retail forex transactions, as well as forex pool operators, trading advisors and introducing brokers to register with the CFTC and become Members of NFA.
Membership in NFA is mandatory, assuring that everyone conducting business with the public on U. NFA membership also is mandatory for swap dealers and major swap participants. NFA's membership united states national futures association nfa and commodity futures trading commission cftc numbers approximately 4, firms and 55, associates. NFA has provided regulatory services to designated contract markets "DCMs" on a contractual basis for more than ten years.
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