The Commodity Exchange Act regulates the trading of commodity futures in the United States. Passed in 1936, it has been amended several times since then. The CEA establishes the statutory framework under which the CFTC operates. Under this Act, the CFTC has authority to establish regulations that are published in title 17 of the Code of Federal Regulations.
The Commodity Exchange Act bans manipulation of commodity futures prices, and requires brokers handling customer orders ("futures commission merchants") to be registered with the federal government. The Act also allowed futures and commodity options to be traded solely on organized exchanges, prohibiting their sale in the over-the-counter (OTC) market.