National Futures Association
Financial ServicesIllinois, United States501-1000 Employees
The National Futures Association (NFA) is a mid-sized self-regulatory organization within the financial services sector, based in Chicago, Illinois. It aims to safeguard the integrity of derivatives markets, protect investors, and ensure that its members comply with regulatory obligations. The NFA serves market participants in the futures space by enforcing standards and overseeing member compliance. In November 2024, it filed a complaint against NinjaTrader Clearing and its president Michael Cavanaugh, alleging significant failures in anti-money laundering controls and suspicious activity monitoring at that Chicago-based futures commission merchant. The organization also communicates regulatory guidance to its member firms through notices and updates, reflecting its ongoing oversight role in the evolving derivatives landscape.