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CTAs are required to register with the CFTC through membership in the NFA
and musst follow certain prescribed CFTC regulations concerning disclosure
to clients and operations.
Certain disclosures must be made by CTAs to prospective clients. These
incl.:
1. disclosing business activities of itself and its principals for the past
five years;
2. disclosing past verifiable trading performance; and
3. stating the fact, if applicable, that the CTA has no previous trading
experience as a CTA (in the case of the CTA who papertrades to get clients)
A CTA may not hold customer assests unless you or your organization is an
FCM also registered as a CTA. etc. etc. etc. (very basic)
This is all taken from the Series 3 brokerage book
It says nothing about CPOs or CTAs doing anything except paying a fee and
abiding by some rules, whereas a broker would need to take his Series 3
(see PassTrak Series 3, from Dearborn Financial Institute, about $40-50
book from Amazon.com).
Best to you.
>Hello,
>What series do i have to take to become a CTA?
>and where can i find more information on it.
>
>Bryant
Check out the book by PASSTRAK, Series 3, at
Amazon.com - I don't know if it is required to
be a CTA, but it IS required to be a broker.
It is your brokerage license. Once you have
your Series 3, I don't think anyone in the
Commodities industry needs anything else,
'cept for paying their dues to the NFA.
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