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TeachMeFinance.com - explain Commodity Futures Trading Commission (CFTC) Act of 1974 Commodity Futures Trading Commission (CFTC) Act of 1974 The term 'Commodity Futures Trading Commission (CFTC) Act of 1974 ' as it applies to the area of agriculture can be defined as ' P.L. 93-463 (October 23, 1974) created the Commodity Futures Trading Commission, to replace the U.S. Department of Agriculture’s Commodity Exchange Authority, as the independent federal agency responsible for regulating the futures trading industry. The Act made extensive changes in the basic authority of Commodity Exchange Act of 1936, which itself had made extensive changes in the original Grain Futures Act of 1923'. Previous 5 Terms: Commodity Distribution Program Commodity Distribution Reform Act and WIC Amendments of 1987 Commodity exchange Commodity Exchange Authority Commodity Futures Trading Commission (CFTC) Next 5 Terms: Commodity Import Programs (CIPs) Commodity letters of credit (CLOC) Commodity loan rates Commodity programs Commodity promotion programs About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.