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Commodity Trading Advisors (CTAs)

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Commodity Trading Advisors (CTAs)

A Commodity Trading Advisor (CTA) is an individual or organization which, for compensation or profit, advises others, directly or indirectly, as to the value of or the advisability of buying or selling futures contracts or commodity options. Providing advice indirectly includes exercising trading authority over a customer's account as well as giving advice through written publications or other media.

A CTA must deliver a Disclosure Document for the offered program to a prospective client prior to or when it delivers the advisory agreement to the client. More...

NFA Rules	Resources
NFA Compliance Rule 2-13. CPO/CTA Regulations NFA Compliance Rule 2-30. Customer Information and Risk Disclosure NFA Compliance Rule 2-35. CPO/CTA Disclosure Documents NFA Compliance Rule 2-34. CTA Performance Reporting and Disclosures NFA Compliance Rule 2-41. Forex Pool Operators and Trading Advisors	Sample Performance Calculation How to File Part 4 Exemptions Using NFA's New Web-based Electronic System (webinar) How to File Disclosure Documents Electronically (webinar) Tips for Using NFA's Electronic Disclosure Document Filing System (podcast) Disclosure Documents: A Guide for CPOs and CTAs (publication) Self-Examination Checklist (publication) Regulatory Requirements for FCMs, IBs, CPOs, and CTAs (publication) CTA Performance Reporting (webcast) CPO/CTA Workshop - Chicago (CD)
Notices to Members	Interpretive Notices
May 11, 2010 NFA provides guidance for disclosure of business background information by commodity pool operators and commodity trading advisors October 16, 2008 NFA Compliance Rules 2-41 and 2-42 June 20, 2008 Additions and Deletions in Disclosure Documents May 24, 2007 Disclosure of Conflicts of Interest January 20, 2004 Performance Reporting February 01, 2008 Annual Regulatory Reminder for Commodity Trading Advisors February 02, 2007 Require Notices of Exemption or Exclusion July 24, 2003 Guidance for the Presentation of Performance Data and Disclosure for Commodity Trading Advisors March 12, 1999 NFA Compliance Rule 2-35 Interpretive Notice November 07, 1996 Amendments to NFA Compliance Rule 2-13 October 11, 1996 Electronic Filing of Disclosure Documents	July 1, 1986 Disclosure of Up Front Fees and Certain Expenses September 21, 1993, revised December 10, 2007 CTAs Trading Primarily in Securities February 1, 1996 Use of Hypothetical Performance Results November 20, 2003, effective May 1, 2004 Performance Reporting and Disclosures

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