Futures broker's commission merchant is one of the focuses of futures laws in various countries. Due to the different political and economic environment, the provisions on "commission merchant" in futures legislation in different countries are also different. Commissions in the United States include futurecommissionmerchant(FCM) and FloorBrokers (FB). Article 2A (Definition) (12) of the American Futures Trading Act stipulates: "Futures commission broker refers to the futures trading order to solicit or accept commodities according to the contract market rules; An individual, association, partnership, company or trust bank that accepts funds, securities or property (or can replace the reputation of funds, securities and property) as a transaction or contract or as a deposit, guarantee and guarantee required for transactions and contracts. " According to this regulation, the characteristics of American futures dealers are: (1) accepting futures trading orders; (2) Accepting cash or other assets as security. At the same time, Article 2A (8) of the American Futures Trading Law also stipulates: "The floor broker refers to the person who buys and sells futures contracts for others in or around the trading pool, trading hall and trading station that can be negotiated by the same trade according to the rules of the contract market." There are two kinds of floor brokers: one is the staff of member commission merchants; The other is an individual who enjoys the membership of a futures exchange. He operates independently and is not employed by any organization. Therefore, when an American floor broker is an independent individual, he is actually a commission merchant. Therefore, American commission merchants are both as legal persons and as individuals.

In Singapore's futures trading law, commission merchants are called futures brokers. Article 2 of the law stipulates: "Futures broker: refers to a person who accepts the entrustment or acts as an agent, engages in purchasing or accepting the entrustment of futures contracts in any exchange or futures market, and accepts money, securities or property (or provides credit on his behalf) to provide guarantee or guarantee for the transactions or contracts generated or possibly generated by the entrustment." The provisions of this law on commission merchants are similar to those of the US Futures Trading Law. However, according to article 12 (3)(a) of the law, the license of futures broker can only be granted to joint-stock companies, that is, it can only be granted to legal persons, and natural persons cannot become commission agents.

Article 24 of China's "Provisional Regulations on the Management of Futures Trading" stipulates: "Futures brokerage companies accept the entrustment of customers and conduct futures trading for customers in their own names, and the trading results are borne by customers." It can be seen that the China commission merchant has the following characteristics: (1) must be a company legal person, and a natural person cannot become a commission merchant; (2) conducting futures trading for customers in its own name. (3) The transaction result shall be borne by the customer.

According to Article 4 of the Foreign Futures Trading Law in Taiwan Province, China, a commission merchant refers to "a person entrusted by a futures trader to conduct futures trading in overseas futures exchanges." It can be seen that the commission merchants in Taiwan Province Province have the following characteristics: (1) must be entrusted by futures traders; (2) Futures trading must be conducted with overseas futures exchanges, because there is no futures exchange on the island of Taiwan Province Province; (3) Must engage in brokerage or intermediary activities.