The Role of Speculators

... Speculators are a source of immediate liquidity for the markets, which is a characteristic of a continuously active market. However, the mere presence of speculators is but one component of a healthy market. Another active group of participants are hedgers. ...

... Each futures contract is reviewed by CFTC economists and trading experts to confirm that its terms are consistent with cash market practices, it may serve an economic purpose, and it is not contrary to the public interest. ...

The responsibility of the CFTC might best be summarized by saying that its purpose is to ensure fair practice and honest dealing in futures trading, in order to permit accurate price discovery and opportunity for efficient hedging through competitive, manipulation-free markets.