Security Futures Product

In December 2000, Congress established a framework for joint regulation by the CFTC and the Securities and Exchange Commission (SEC) of the trading of futures on single securities and futures on narrow-based security indexes. Collectively, these products are called security futures products or SFPs. SFPs have features of both securities and futures.

Congress added a definition of “narrow-based security index” to distinguish between futures on narrow-based security indexes, which are jointly regulated by the CFTC and SEC, and futures on broad-based security indexes, which are under the exclusive jurisdiction of the CFTC.

The CFTC and the SEC jointly promulgated regulations and guidance regarding the listing and trading of SFPs to implement the changes made to the Commodity Exchange Act and the Securities Exchange Act by the Commodity Futures Modernization Act.

List of Security Futures Products


Security Futures Products Regulations and Requirements