Definitions for "Futures Commission Merchant"
An individual or organization accepting orders to buy or sell futures or futures options. see also merchant.
An individual or organization which solicits or accepts orders to buy or sell futures contract or commodity options and accepts money or other assets from customers in connection with such orders. An FCM must be registered with the CFTC.
An individual or organization which solicits or accepts orders to buy or sell futures or options contracts and accepts money or other assets from customers in connection with such orders. Must be registered with the Commodity Futures Trading Commission.
An intermediary who stands between the brokers in the pits and the nonmember speculating and hedging public. Every brokerage house must be a futures commission merchant in order to do business with the public.
A brokerage house that is authorized by a futures exchange to trade with retail clients.