Kwinqaku elidlulileyo, ndachaza indima ye-Futures Commissioner Merchant ( FCM ) kunye nezizathu ukuba iKomishoni yokuThengiswa kweMpahla yoTywala (CTFC) idinga ukubhaliswa kwi-National Futures Association (NFA) kubantu abaninzi kunye nemibutho. Kukho ezinye iindima ezilawulwayo xa kuziwa kwiimarike zeempahla ezizayo kwi-United States. Ezi zikhundla ziququzelela ukwahlukana kweembopheleleko kunye nokudala ukusebenza kakuhle kwishishini.
Kule ngqungquthela, siza kujonga iindima ze-Introducing Broker (IB), uMntu oManyeneyo (AP), uMcebisi wezoThengiswa kweeMveliso (CTA) kunye noMqhubi wePropati yeeMveliso (CPO).
Kwihlabathi lemarike yexesha elizayo , kukho iindima ezibalulekileyo kubaqeqeshi abanezobugcisa ekuthengiseni, ukuqhuba, ukulungelelanisa , ukulungelelanisa, ukuthengiswa kwemali kunye nokulawula imali yabathengi abatyalole kule marike. I-IB okanye i-Introducing Broker yinkwenkwezi engumthengisi wexesha elizayo. I-IB ivame ukuba nolwalamano oluchanekileyo nomxhasi, nangona kunjalo; Amagosa e-IB yomyalelo wexesha elizayo kumthengisi weKomishoni ye-Futures ukwenzela ukuqhutyelwa, ukucoca kunye nokuhlaziywa. I-IB ifumana ikhomishini yemiyalelo eyalelwe kwi-FCM. I-IB ingasebenzela enye okanye ngaphezulu kweCMM. Indima ye-IB ikwandisa ukusebenza ngendlela yokuba i-IB igxininise kwiimfuno zabaxumi ngelixa i-FCM igxininise ekusebenzeni, ukuthengiswa kunye nemisebenzi yomgangatho.
I-FCM okanye inkampani enxulumene nexesha elizayo isebenzisa umntu odibeneyo (AP). Ii-AP zibandakanyeka ekucebiseni okanye ekuququzeleleni ukulandelelana komyalelo wexesha lomthengi, ukugcinwa kweengxelo zobulumko kunye nokuthatha inxaxheba kwimarike yexesha elizayo. Iingxelo zengqondo ziqhelekileyo apho apho i-AP iza kuba nokuqonda xa kuthengwa nokuthengisa umthengi.
Ezi akhawunti kufuneka zibhalile amandla egqwetha ngokwemimiselo yemarike. Kwiimeko ezininzi, bonke abasebenzi be-FCM kufuneka babhalise kwi-NFA njenge-AP.
Umcebisi wezoThengisa iimveliso okanye i-CTA ingaba ngumntu okanye inkampani. I-CTA inikezela ngeengcebiso ngabanye malunga nokuthengwa okanye ukuthengiswa kwezivumelwano zexesha elizayo, iinketho kwiikontrakthi zexesha elizayo okanye izivumelwano ezithile zokutshintshiselana kwamanye amazwe. I-NFA idinga ukuba irejista ye-CTA, njengokuba igosa elizilawulayo kwi-shishini elizayo. Ngoxa i-CTA ifana nomcebisi wezemali, indima iyingqayizivele ekuthengiseni kwimveliso kwixesha elizayo. I-CTA idla ngokubaluleka ngaphezu kweemali abazithengi abaxhasi. Ii-CTA zineemfuno ezithile zokunika ingxelo ezichongiwe ngumlawuli ophezulu, i-CFTC.
Umqhubi wePlastiki yeZiko lokuThengisa ngumntu okanye iqumrhu elicebisa kwaye lifumana imali evela kubaxhasi-mali kwi-future product, ukhetho kwixesha elizayo kunye naziphi na izithuthi ezithengisa ukuthengisana kwexesha elizayo ngokubambisana. I-CPO ihlanganisela iimali zabaxumi kwi-pool ize ibeke ezo mali kwi-akhawunti eyodwa, ngokukhawulelanisa loo mali. Nangona kukho ukufana okuninzi phakathi kwe-CTA kunye ne-CPO, i-CFTC ineemigaqo ethile nemimiselo ebonisa ukubahluko phakathi kwababini.
Bonke aba baqeqeshi, abenza ishishini kwimarike yexesha elizayo, kufuneka badlule ukuhlolwa kobuchule ukuba i-NFA ilawula. Olu vavanyo luvavanyo lweChungechunge 3. Ngaphantsi kweemeko ezithile, ukuxolelwa kunokwenzeka xa nje umzimba olawulayo, iCFTC, uvuma ukuba ukuxolelwa.
Ummandla wokulawula ukuthengiswa kwezinto ezikhoyo kunye nokuthengiswa kwempahla kudala emva kwee-1970 xa abathengi abatyathengisayo baba neqeshiso kwiimarike zaso. I-CFTC iye yandisa kancane imfuno yolawulo kubo bonke abaqeqeshiweyo abachaphazelekayo kule mali.
Iimarike zexesha elizayo zisebenza ngezinga eliphezulu lokuphakamisa. Ngako oko, inzuzo yokufumana inzuzo ebalulekileyo iye yabangela abatyala-mali abaninzi kunye nabahwebi kwiminyaka edlulileyo. Xa kukho inzuzo ephakamileyo yokufumana inzuzo, kukho ukuhlala kukho ilahleko ezinkulu.
Ulawulo olukhuselekileyo lukhusela abathengi kuphela balaba baqeqeshi kodwa lubeka imimiselo nemimiselo kwizame zokudala inqanaba lokudlala iqela kubo bonke abathathi-nxaxheba beemarike.
Utshintsho kuMgaqo
Unyulo lukaDonald Trump njengoMongameli wase-US lunokutshintsha imeko yokulawula kuzo zonke iiklasi ze-asethi ezibandakanya kwi-shishini elizayo. UMongameli uTumpump uya kumisela abathathu abakhomishana abatsha kwi-CFTC abaza kuthatha indlela engaphezulu yokumisela umgaqo kwixesha elizayo.