DEFINITION of 'Association Of Futures Brokers And Dealers - AFBD'
An organization established by the major London futures exchanges to provide regulatory supervision for futures brokers and dealers. The Association of Futures Brokers and Dealers (AFBD) was a self-regulating organization when it was founded in 1984. It has since been incorporated into the Financial Services Authority.
BREAKING DOWN 'Association Of Futures Brokers And Dealers - AFBD'
The Association of Futures Brokers and Dealers was formed to be a self-regulatory organization to oversee futures broker and dealer activity. The association developed and maintained standards to which British brokers and dealers on futures exchanges were expected to adhere. In 1991, the Association of Futures Brokers and Dealers merged with The Securities Association (TSA) to form the United Kingdom's Securities and Futures Authority (SFA), which sets the rules of fair practice as well as capital requirements for firms active in the securities, futures and options markets.