Lumen Futures Blog
Rules & Regulation
CFTC, NFA, IRS and exchange rules that apply to futures traders, read from the rule text itself.
Rules & RegulationOctober 27, 2026Do You Need a License to Trade Futures?
US futures regulation registers firms and individuals in named categories, and this sets out the trigger for each of the main ones and what the word licence means in the CFTC's own rules.
- Rules & RegulationOctober 14, 2026
What Is a Wash Trade in Futures Trading? The Two Things the CFTC Has to Prove
A wash trade is a purchase matched against a sale in one futures contract and delivery month at one price or close to it, structured so that the trader's position and risk come out unchanged — prohibited by the Commodity Exchange Act, and proved in two steps.
- Rules & RegulationOctober 2, 2026
What Is Spoofing in Futures Trading, and Where Is the Line?
Spoofing is entering a bid or offer you mean to pull before it fills. The federal spoofing prohibition turns on the intent you held when the order was entered, which is why a good-faith cancellation is ordinary trading and a knowing violation is a felony.
- Rules & RegulationSeptember 8, 2026
Limit Up and Limit Down in Futures: How Price Limits Work
Price limits cap how far an equity index futures contract may move in a session, and whether hitting one halts trading depends on the contract and the time of day.
- Rules & RegulationSeptember 4, 2026
How Are Futures Taxed? Section 1256 and the 60/40 Rule
Futures traded on a US exchange fall under Section 1256, which splits every gain 60% long-term and 40% short-term regardless of holding period and marks open positions to market at year end.
- Rules & RegulationSeptember 3, 2026
Does the Pattern Day Trader Rule Apply to Futures?
The pattern day trader rule is a FINRA margin requirement for securities margin accounts at broker-dealers, so it does not govern a futures account — and FINRA is replacing it for securities anyway.