[gamblor956]

A trading instrument can be both a commodity and a security and thus subject to regulation by the CFTC and the SEC.

Most issuers try very hard to keep their instrument in one bucket to avoid the kind of issues that cryptocurrencies are dealing with.

[siftrics]

I should have said "the derivatives in question" instead of simply "derivatives".

My point stands: OP claimed that most trading volume happens in securities and it simply does not. I highly doubt securities amount to more than the $20 quadrillion settled in the CFTC's realm last week.

I'm not claiming the jurisdictions of the CFTC and SEC are mutually exclusive. My point stands.