Divides the financial futures market participants into the sell side and buy side. This functional division of participants focuses on their respective roles in the broader marketplace:
Dealer/Intermediary - Typically described as the sell side of the market. Earn commissions on selling financial products, capturing bid/offer spreads and otherwise accommodating clients. Though they may not predominately sell futures, they do design and sell various financial assets to clients. Futures contracts are part of the pricing and balancing of risk associated with products they sell. These include large banks and dealers in securities, swaps and other derivatives.
Asset Manager/Institutional - Institutional investors, including pension funds, insurance companies, mutual funds and portfolio/investment managers whose clients are predominantly institutional.
Leveraged Funds - Typically hedge funds and various types of money managers, including registered Commodity Trading Advisors (CTAs), Commodity Pool Operators (CPOs) or an unregistered funds identified by CFTC. These traders may be engaged in managing and conducting proprietary futures trading and trading on behalf of speculative clients.
Other Reportables - Reportable traders that are not placed into one of the first three groups. Mostly are using markets to hedge business risk (related to foreign exchange, equities or interest rates). Includes corporate treasuries, central banks, smaller banks, mortgage originators, credit unions and any other reportable traders.
Picture below shows legacy and financial traders data.