This paper examines the interaction between government regulation and self-regulation within the global futures markets. These regulatory mechanisms are critical to ensuring market integrity, promoting transparency, and managing risks. While government bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) impose legal oversight, self-regulatory organizations (SROs) such as exchanges set industry-specific rules and guidelines. This paper explores how these two forces interact, often complementing each other but sometimes overlapping, creating both opportunities and challenges. Through case studies and theoretical analysis, the paper examines the dynamics of regulatory competition, the impact of technological advancements, and the evolving nature of market oversight. Additionally, the paper delves into the role of market participants in navigating this dual regulatory environment, with an emphasis on the importance of regulatory flexibility and innovation in an increasingly complex financial landscape. By investigating how these two systems of regulation cooperate and conflict, the paper aims to provide a deeper understanding of how future regulatory mechanisms might evolve, particularly with the integration of big data and artificial intelligence. Ultimately, it concludes that the future of futures market regulation will require greater coordination between government bodies and SROs to achieve efficiency and sustainability.

Government regulation;Self-Regulation;Futures markets;Regulatory interaction;Market efficiency

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DOI： https://doi.org/10.62639/sspjiss28.20250202

Published： 2025