The Commodity Exchange Act requires all futures commission merchants (FCMs) and introducing brokers (IBs) to register as such, unless they qualify for an exemption, e.g.:. A firm handling transactions only for proprietary persons (such as the firm itself, affiliates, top officers, or directors) need not register as an FCM. The Commodity Futures Trading Commission relies on data collected from market participants to conduct all of its mission functions including market oversight, monitoring for liquidity and systemic risk, oversight of market participants, regulatory compliance, and enforcement of the CEA. Data is a Registration and Membership. The Commodity Exchange Act (CEA) requires certain firms and individuals that conduct business in the derivatives industry to register with the CFTC. CFTC regulations also require, with few exceptions, CFTC registered firms to be NFA Members. The CFTC has delegated registration responsibility to NFA.