The Commodity Exchange
A commodity exchange is an organization that formulates rules for the trading of commodity futures contracts, provides a place to trade and/or an electronic trading platform and supervises trading practices. Its members are people whose business is trading. The exchange establishes the terms of standardized contracts that are traded subject to Commodity Futures Exchange Commission (CFTC) approval. It also disseminates price and market information and provides the mechanics to
guarantee contract settlement and delivery.
Details: Who's Who in the Futures Markets