Minimum Net Capital Requirements for Futures Commission Merchants and Introducing Brokers
Felix Shipkevich - February 22, 2010Minimum Net Capital Requirements for
Futures Commission Merchants and Introducing Brokers
Pursuant to Section 17(j) of the Commodity Exchange Act, as amended, the NFA hereby submitted to the CFTC proposed amendments to Financial Requirements Section 1 regarding minimum net capital requirements for futures commission merchants and introducing brokers. NFA’s Board of Directors approved this proposal on February 18, 2010.
• Increase the minimum dollar capital requirement from $500,000 to $1,000,000;
• Increase the risk-based capital requirement for non-customer accounts from 4% to 8% of the total risk margin requirement for positions carried in non-customer accounts; and
• Include cleared over-the counter derivative positions in an FCM’s risk based capital calculation for customer and non-customer accounts.
