I-FCM yi-Futures Merchant Commission. I-FCM ngumntu okanye inhlangano ecela kunye / okanye yamkela i-oda yokuthenga okanye yokuthengisa izivumelwano zesikhathi esizayo, iinketho kwiikontrakthi zesikhathi esizayo, iimvumelwano zentengiso yelizwe langaphandle okanye i-swaps kunye nokwamkela imali okanye ezinye izinto ezivela kubaxhasi ukuxhasa ezo myalelo.
I-FCM nayo inembopheleleko yokuqokelela umda kumakhasimende.
IKhomishini yoThengiso lwezoThutho zoThengiso
IKomishoni yokuThengiswa kweeNkxaso zeMpahla (CFTC) ilawula i-FCM. Nabani na umntu okanye inkampani eyenza iikontraka zexesha elizayo egameni lomnye kufuneka ibhalise kwi-National Futures Association. Kukho ukuxolelwa okuthe ngqo kubhaliso. Ngokomzekelo, ukuba iqumrhu okanye umntu ulawula ukuthengiselana kuphela okanye i-firm yabo ngokwawo okanye amafemu abo abachaphazelekayo, amagosa aphezulu, abalawuli okanye ukuba bangabemi base-US okanye baqinele kuphela abathengi abangewona base-US kwaye umntu okanye iqumrhu lihambisa zonke ukuhweba kwiCFM elawulwayo ukuba iqumrhu okanye umntu angayi kubhalisa.
Mi miselo
Kukho imigaqo nemimiselo emininzi eyenziwa kwi-FCM, le mithetho yaba yintlupheko emva kokuphunyezwa kwe-Dodd-Frank Wall Street kunye noMthetho woKhuseleko kwabaThengi ngo-2010. Abaxhasi abathengisa i-Future ngokusebenzisa i-Introducing Broker ( IB ) baqhubekile kwaye kucinywa kwiCMM.
I-FCM enkulu kunazo zonke iibhanki kunye namaziko emali ngeendlela ezininzi zezoshishino. Nangona kunjalo, ezinye ze-FCM zisebenza kuphela ngaphakathi kwintsebenziswano yexesha elizayo. Omnye wemithetho ebaluleke kakhulu elawula i-FCM kukuba i-CFTC iyawavimbela ekuxubeni iimali zabo ngokwazo iimali zabathengi babo.
I-FCM kufuneka ihlukanise yonke imali yabathengi. Lo mgaqo ukhusela abathengi beenkampani kwiilahleko. Icala le-firm, i-MF Global ibonisa ukuba kutheni lo mgaqo ubaluleke kakhulu.
MF Global
I-Global MF yayiyi-FCM eyathengisa i-akhawunti yayo. Xa amashishini ahambelana nenkampani, alahlekelwa yimali eninzi. Emva kophando, i-CFTC ifumene ukuba i-MF Global ixube imali yenkampani kunye nemali eqokelelwe kubathengi. Ngomhla ka-Oktobha 2011, ifayili idlulisela phantse i-$ 900 yezigidi kwiakhawunti yabathengi ukuya kumthengisi wayo ukuba ahlawule ilahleko kwimisebenzi yokuthengisa. Ngoko ke, xa i-MF yehlabathi ihlehlisiwe ngo-2011 abathengi befensi balahlekelwa yimali yabo. Ukuba i-MF Global ilandele imigaqo kwaye ihlukanise imali yabathengi bayo i-firm ingaba iqhutywe ngenxa yezinto ezibi kodwa abathengi bazo abazange balahlekelwe yilahleko, imithetho iya kubakhusela. Nangona abaninzi abathengi beMF Global bafumana imali yabo emva koko, kuthatha phantse iminyaka emibini ukuhlawula umonakalo. Njengoko uyakubona, kukho izizathu ezibalulekileyo zemithetho nemimiselo kwishishini elixhamlayo. Abalawuli bayayilwa le migaqo ngokukodwa ukukhusela abathengi.
I-FCM kufuneka ingenise kuphicotho-zincwadi kwaye ibonise amanqanaba aneleyo efanelekileyo ukuze asebenze amashishini abo.
Ukongezelela, abasebenzi be-FCM kufuneka babonise ubuchule kwishishini lokuthengiswa kwexesha elizayo kwaye bangenise kwi-check checks. Ukurhweba kunye nokutyalomali kwiimarike zexesha elizayo kuye kwabangela inani elininzi labathathi-nxaxheba kwiminyaka yamuva. Iimarike zexesha elizayo zivame ukunyanzelisa ngaphezu kwezinye iimarike zee-asethi kwaye zisebenza ngezinga eliphezulu lokuphakamisa. Umlinganiselo omncinci we-margin (intsebenzo-mboleko) kuyimfuneko ukuqala indawo yexesha elizayo. Ngaphandle kokulawulwa kweeKomishoni zeeKomishoni zeeKomishoni ezilawula ukuqhutyelwa kwezoshishino ukutshintshiselana, ubuchule bokuxhaphazwa buya kuba bukhulu. I-Futures brokers ngokuqhelekileyo yabasebenzi okanye abambene neCMM. Oku kusasaza ukusebenza komsebenzi ogqithisayo kwiintengiso. Yenza indawo apho umgaqo osebenzayo kunye nolawulo olufanelekileyo lunokwenzeka.
Amashishini aKhomishoni yexesha elizayo adlala indima ebalulekileyo kwihlabathi elincinci lezorhwebo.