pA bCommodity trading advisor/b is US a href=/pages/w/financial regulatory/a term for an individual or organization who is retained by a fund or individual client to provide advice and services related to trading in a href=/pages/w/futures contract/as, commodity a href= class=wikipediaoptions/a and/or a href= class=wikipediaswaps/a. They are responsible for the trading within a href=/pages/w/managed futures account/as. The definition of CTA may also apply to investment advisors for a href=/pages/w/hedge fund/as and private funds including a href=/pages/w/mutual fund/as and a href=/pages/w/exchange-traded fund/as in certain cases. CTAs are generally regulated by the United States federal government through registration with the a href=/pages/w/Commodity Futures Trading Commission/a and membership of the a href=/pages/w/National Futures Association/a ./ph2Characteristics/h2h3Trading activities/h3pA CTA generally acts as an a href=/pages/w/asset manager/a, following a set of investment strategies utilizing a href=/pages/w/futures contract/as and a href=/pages/w/options/a on futures contracts on a wide variety of physical goods such as agricultural products, forest products, metals, and energy, plus a href=/pages/w/derivative contracts/a on financial instruments such as indices, bonds, and currencies. The trading programs employed by CTAs can be characterized by their market strategy, whether a href=/pages/w/trend following/a or a href=/pages/w/market neutral/a, and the market segment, such as financial, agricultural or currency./p

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