A person who, for pay, regularly engages in the business of advising others as to the value of commodity futures or options or the advisability of trading in commodity futures or options, or issues analysis or reports concerning commodity futures or options (7 USC § 1a(12)). CTAs must register with the Commodity Futures Trading Commission (CFTC) and must be members of the National Futures Association (NFA). CTAs typically advise commodity pools and registered commodity pool operators (CPOs).