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CFTC Adopts Amendments To Minimum Adjusted Net Capital Requirements Of Futures Commission Merchants And Introducing Brokers (effective in 90 days)


The Commodity Futures Trading Commission (CFTC) has adopted amendments to its regulations regarding minimum adjusted net capital under CFTC Regulation 1.17 for futures commission merchants (FCMs) and those introducing brokers (IBs) that do not operate under a guarantee agreement with an FCM.

The amendments increase the minimum adjusted net capital requirement for IBs from $30,000 to $45,000, and for FCMs from $250,000 to $1,000,000. The amendments also increase an FCM’s margin-based capital requirements for noncustomer positions that the firm carries from 4 percent of the maintenance margin requirements to 8 percent of the maintenance margin requirements. The amendments also require capital computations for cleared over-the-counter positions carried in customer, and noncustomer, accounts of the FCM, similar to the computations currently required for exchange-traded futures in such accounts.

The amendments will become effective 90 days from publication in the Federal Register. Copies of the amendments may be obtained by contacting the Commission's Office of the Secretariat, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581, 202-418-5100, or by accessing the Commission's website,


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