In the futures industry, the level of held futures
contracts at which the customer must be identified to the exchange and to the
Commodity Futures Trading Commission (CFTC). The CFTC produces a bi-weekly
report, called the Commitment of Traders’
Report, for each commodities market; the report shows whether different
classes of traders, such as institutions or hedge funds, are net buyers or net
sellers of each commodity or financial instrument. The report summarizes all of
the reportable positions. Typically, the CFTC is widely watched in futures
markets that are relatively dominant to the cash markets, such as grains,
cattle, or energy; they are less widely watched for futures with a large cash
market such as Treasury bonds or notes that have a large cash market.