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, commodity options, retail off-exchange forex contracts or swaps. 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 2-34. CTA Performance Reporting and Disclosures NFA Compliance Rule 2-35. CPO/CTA Disclosure Documents NFA Compliance Rule 2-36. Requirements for Forex Transactions NFA Compliance Rule 2-46. CPO Quarterly Reporting Requirements Sample Performance Calculation Regulatory Requirements for Previously Exempt Commodity Pools (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 Questionnaire (publication) Regulatory Requirements for FCMs, IBs, CPOs, and CTAs (publication) CTA Performance Reporting (webcast) CPO/CTA Workshop - Chicago (CD) Notices to Members Interpretive Notices I-13-12: Effective Date of Amendments to NFA Compliance Rule 2-46: CPO and CTA Quarterly Reporting Requirements I-13-02: Reminder: CFTC Regulation 4.27: CTA Reporting Requirements More... 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