Futures Commission Merchant (FCM): A futures commission merchant (FCM) is a person or a firm that acts as an agent to execute buy or sell orders for futures contracts or commodity options. You may open an account directly with an FCM or place your orders through an introducing broker or commodity trading advisor.

 

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Futures Commission Merchant (FCM): A futures commission merchant (FCM) is a person or a firm that acts as an agent to execute buy or sell orders for futures contracts or commodity options. You may open an account directly wit . . . View Full Definition

National Futures Association (NFA): The futures industry self-regulatory organization established in 1982.

National Drought Policy Commission: P.L. 105-199 (July 16, 1998), the National Drought Policy Act, authorized creation of the Commission to conduct a study of current federal, state, local and tribal drought preparedness, and . . . View Full Definition

Nearby Futures Contract: When several futures contracts are considered, the contract with the closest settlement date is called the nearby futures contract. The next (or the 'next out') futures contract is the one t . . . View Full Definition

National Commission On Small Farms: A 30-member panel appointed by the Secretary of Agriculture in 1997 to examine the status and needs of small farms in the United States. The Commission presented its findings, which included . . . View Full Definition

Negotiated Commission: An unfixed broker's commission that is determined through negotiation, depending on the specifics of the trades performed.

New York Futures Exchange (NYFE): A wholly owned subsidiary of the NYSE that trades futures and futures options on the NYSE composite index.

Most Distant Futures Contract: When several futures contracts are considered, the contract settling last. Related: Nearby futures contract.

London International Financial Futures Exchange (LIFFE): A London exchange where Eurodollar futures as well as futures-style options are traded.

Kuala Lumpur Options And Financial Futures Exchange (KLOFFE): Established in 1995, the Kuala Lumpur Options and Financial Futures Exchange offers equity derivative products based on underlying instruments traded on the Kuala Lumpur Stock Exchange (KLSE).