Foreign Futures Commission Merchant Law and Legal Definition

According to 11 USCS § 761 [Title 11. Bankruptcy; Chapter 7. Liquidation Subchapter iv. Commodity broker liquidation] foreign futures commission merchant means “entity engaged in soliciting or accepting orders for the purchase or sale of a foreign future or that, in connection with such a solicitation or acceptance, accepts cash, a security, or other property, or extends credit to margin, guarantee, or secure any trade or contract that results from such a solicitation or acceptance.”