Explanation

The National Futures Association (NFA)

It is the self-regulatory organization (SRO) for the U.S. derivatives industry,

They traded on-exchange futures, retail off-exchange foreign currency (forex), and OTC derivatives (swaps).

NFA is headquartered in Chicago

Founded: 1982

It was created by the Commodity Futures Trading Commission (CFTC) in September 1981

And began regulatory operations in 1982.