National Futures Association - NFA

The derivatives market is often considered the Wild West of the financial world. But that doesn't mean it has no rules. Even the Wild West had its Wyatt Earp or Pat Garrett.

For the derivatives market, that tin-star-wearing, spur-jangling entity is known as the National Futures Association.

The NFA operates as the self-regulatory entity for the U.S. derivatives industry. It provides guidelines and operating procedures meant to maintain the integrity of trading in things like options and futures.

The organization, founded in 1982, is headquartered in Chicago.