of course there is a colour management system for Broadcast video, it is part and parcel of the Broadcast specifications, in Europe the PAL specifications are set by the EBU (European Broadcasting Union, have a look at one small document on the EBU requirements for broadcast monitors.
http://tech.ebu.ch/docs/tech/tech3320.pdf
you confusion is caused because there are two different colour systems being used by Final Cut Pro and you are treating them as the same thing.
there is colour management of the computer display
there is colour management of broadcast video
they are both handled separatly and one system does not control the other
you can create a custom profile for your combination of graphics card, display and working methods, you then have to apply this profile to the graphics card by:
apple menu >system preferences >displays >colour and selecting the profile you want to use.
if you change from one profile to another, you will see the change on your display on how it affects the computer graphics display system, but it will not affect the colour scheme of NTSC or PAL video as it is a totally separate system.
The technique for picture monitoring and signal control for broadcast video is to use a waveform monitor, vectorscope and a high quality Broadcast spec colour monitor and use the tools in Final Cut Pro to produce the picture the editor wants.
The picture on my TV set at home will not exactly match the picture on my broadcast monitor, but that is not the purpose. The objective is to monitor and control the picture so that it is the best that can be achieved by the editor as it leaves his edit room.