The US Commodity Futures and Trading Commission (CFTC) is an agency independent of the US government that was created in 1974 and responsible in regulation of the futures and options markets.
The CFTC has their offices in Chicago, New York and Kansas City, Missouri. The commission is made up of 5 commissioners who are appointed by the president and serve for a 5 year term. With the coordination and consent of the US Senate, the president appoints one of the commissioners to serve in the capacity of the Chairperson. It is a rule that no more than 3 commissioners in the CFTC should be from one party.