Business / Taxes / Futures Commission Merchant (FCM): A futures commission merchant (FCM) is a person or a firm that acts as an agent to execute buy or sell orders for futures contracts or commodity options. You may open an account directly with an FCM or place your orders through an introducing broker or commodity trading advisor.
Merchant Verb Synonyms: pedlar, hawker, (travelling) salesman, (sales) representative, commercial traveler, huckster, door-to-door salesman, drummer, (sales) rep
Merchant Noun Synonyms: dealer, retailer, seller, shopkeeper, store owner, trader, tradesman or tradeswoman, vendor
Business / Finance / National Futures Association (NFA): The futures industry self-regulatory organization established in 1982. MORE
Business / Agriculture / National Drought Policy Commission: P.L. 105-199 (July 16, 1998), the National Drought Policy Act, authorized creation of the Commission to conduct a study of current federal, state, local and tribal drought preparedness, and review law MORE
Business / Finance / Nearby Futures Contract: When several futures contracts are considered, the contract with the closest settlement date is called the nearby futures contract. The next (or the 'next out') futures contract is the one that settle MORE
Business / Finance / Negotiated Commission: An unfixed broker's commission that is determined through negotiation, depending on the specifics of the trades performed. MORE
Business / Finance / Next Futures Contract: The contract settling immediately after the nearby futures contract. MORE