Each of the CFTC's five commissioners is appointed by the President, and confirmed by the U.S. Senate, to serve a five-year term. When the CFTC was established in 1975, the terms were staggered to ensure that one term ended each year. Because of this, some CFTC commissioners have been appointed to and have held more than one term while others served less than five years because they were appointed to fill a term that had already commenced.