FXstreet.com

The Brokers (re) Evolution

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U.S. FDM's under major threat?

Wed, Oct 31 2007, 15:27 GMT
by Marina Schiaffino

FXstreet.com


FXstreet.com International Traders Conference

ITC Barcelona 09 - Oct. 14-16 with Rob Booker, Valeria Bednarik, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.

Up-to-date Information
· The hottest issue: U.S. FDM's under major threat?
· Read the interviews with some of the main Forex Brokers' CEOs and with Dan Roth, CEO and President for the NFA
· NFA New Regulations for Brokers: Tony Juste speaks about it


NFA RegulationNFA (National Futures Association) has received notice that the Commodity Futures Trading Commission has approved changes to NFA Requirements Section 11 and the Interpretive Notice entitled "Forex Transactions." The amendments increase the minimum net capital requirement for Forex Dealer Members (FDMs) to $5,000,000. They also eliminate the concentration charge and replace it with restrictions on the types of firms with which an FDM may maintain assets and cover its exposure for purposes of CFTC Regulation 1.17. These changes will become effective on December 21, 2007.

But the news are shaking the markets as we have seen that Dan Roth is proposing that only companies that are mainly engaged in Futures business (IE. FCMs) could be allowed to offer Forex. As you can imagine, this is a very important issue for FXstreet.com as it could turn the FX industry upside down, not only in the U.S. but worldwide. See the full coverage of this subject on our CEO's blog: U.S. FDM's under major threat?

FXstreet.com has followed the story step by step. You can review the opinion of our guru Tony Juste in the Advisor's Blog or review the transcript of the SPECIAL WEBINAR that he made on September 13th. We also have Francesc Riverola, CEO at FXstreet.com, following the current news in the FXstreet.com Weblog. 

You can review the replies of the CEO's of some of the main FX companies to the open letter that Francesc Riverola sent and see how the CEO's give their opinion about the new regulation.

There's a huge amount of Forums where people's talking about the subject. Check out the threads at:


Related Links

Is your forex dealer going to go out of business? by John Jagerson at Profiting with Forex

Brokers against which the NFA has taken legal action:

Other interesting links from the NFA:

Check a full list of regulated brokers on our Forex Brokers Table and find out which brokers are currently passing on the new standards.

Brokers above 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
OANDA CORPORATIONNFA156.467.9665.000.000151.467.966
FOREX CAPITAL MARKETS LLCNFA60.268.3905.000.00055.268.390
GLOBAL FUTURES & FOREXNFA48.302.0715.000.00043.302.071
FOREX LIQUIDITY LLCNFA38.317.4865.000.00033.317.486
GAIN CAPITAL GROUP LLCNFA36.679.5385.000.00031.679.538
INTERBANK FX LLCNFA27.110.9675.000.00022.110.967
FX SOLUTIONS LLCNFA23.062.7485.000.00018.062.748
PEREGRINE FINANCIAL GROUP INCNFA14.742.8635.000.0009.742.863
ODL SECURITIES INCNFA12.642.6615.000.0007.642.661
CAPITAL MARKET SERVICES LLCNFA11.255.5115.000.0006.255.511
IFX MARKETS INCNFA9.078.8825.000.0004.078.882
IFSCL USA INCNFA6.736.4655.000.0001.736.465
I TRADE FX LLCNFA6.645.0155.000.0001.645.015
HOTSPOT FXR LLCNFA6.023.3235.000.0001.023.323
3D FOREX, LLCNFA5.580.6355.000.000580.635
MONEY GARDEN CORPNFA5.505.6385.000.000505.638

A/O Date: 31/08/2007

Brokers under 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
EASY FOREX US LTDNFA4.628.8505.000.000-371.150
GFS FOREX & FUTURES INCNFA3.403.4095.000.000-1.596.591
FOREX CLUB FINANCIAL COMPANY INCNFA3.308.0215.000.000-1.691.979
BACERA CORPORATIONNFA3.222.5685.000.000-1.777.432
E FX OPTIONS LLCNFA3.055.8125.000.000-1.944.188
CMC MARKETS (US) LLCNFA2.806.2755.000.000-2.193.725
DIRECT FOREX LLCNFA1.406.8805.000.000-3.593.120
ADVANCED MARKETS INCNFA1.269.5405.000.000-3.730.460
ROYAL FOREX TRADING LLCNFA1.262.5595.000.000-3.737.441
SNC INVESTMENTS INCNFA1.247.0505.000.000-3.752.950
ONE WORLD CAPITAL GROUP LLCNFA1.170.4385.000.000-3.829.562
IG FINANCIAL MARKETS INC.NFA1.014.0305.000.000-3.985.970
TRADITION SECURITIES AND FUTURES INCNFA786.6125.000.000-4.213.388
FXCM LLCNFA768.8645.000.000-4.231.136

A/O Date: 31/08/2007

Published on  Wed, Oct 31 2007, 15:27 GMT

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Dan Roth, CEO and President for the NFA answers the questionnaire

Tue, Oct 23 2007, 15:15 GMT
by Marina Schiaffino

FXstreet.com


Up-to-date Information
· CFTC approves changes requested by the NFA
· Read the interviews with some of the main Forex Brokers' CEOs and with Dan Roth, CEO and President for the NFA
· NFA New Regulations for Brokers: Tony Juste speaks about it


NFA RegulationNFA (National Futures Association) has received notice that the Commodity Futures Trading Commission has approved changes to NFA Requirements Section 11 and the Interpretive Notice entitled "Forex Transactions." The amendments increase the minimum net capital requirement for Forex Dealer Members (FDMs) to $5,000,000. They also eliminate the concentration charge and replace it with restrictions on the types of firms with which an FDM may maintain assets and cover its exposure for purposes of CFTC Regulation 1.17. These changes will become effective on December 21, 2007.

FXstreet.com has followed the story step by step. You can review the opinion of our guru Tony Juste in the Advisor's Blog or review the transcript of the SPECIAL WEBINAR that he made on September 13th. We also have Francesc Riverola, CEO at FXstreet.com, following the current news in the FXstreet.com Weblog. 

You can review the replies of the CEO's of some of the main FX companies to the open letter that Francesc Riverola sent and see how the CEO's give their opinion about the new regulation.

There's a huge amount of Forums where people's talking about the subject. Check out the threads at:


Related Links

Is your forex dealer going to go out of business? by John Jagerson at Profiting with Forex

Brokers against which the NFA has taken legal action:

Other interesting links from the NFA:

Check a full list of regulated brokers on our Forex Brokers Table and find out which brokers are currently passing on the new standards.

Brokers above 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
GLOBAL FUTURES & FOREXCFTC54.662.9975.000.00049.662.997
OANDA CORPORATIONNFA50.837.8995.000.00045.837.899
FOREX CAPITAL MARKETS LLCNFA50.465.6945.000.00045.465.694
FOREX LIQUIDITY LLCNFA39.909.0315.000.00034.909.031
GAIN CAPITAL GROUP LLCNFA29.061.8305.000.00024.061.830
INTERBANK FX LLCNFA25.178.1455.000.00020.178.145
FX SOLUTIONS LLCNFA15.077.1335.000.00010.077.133
PEREGRINE FINANCIAL GROUP INCNFA12.781.6205.000.0007.781.620
IFX MARKETS INCNFA12.293.5495.000.0007.293.549
CAPITAL MARKET SERVICES LLCNFA11.849.4425.000.0006.849.442
ODL SECURITIES INCNFA10.822.7705.000.0005.822.770
IFSCL USA INCNFA7.130.9215.000.0002.130.921
HOTSPOT FXR LLCNFA5.990.6365.000.000990.636
MONEY GARDEN CORPNFA5.162.3345.000.000162.334

A/O Date: 31/07/2007

Brokers under 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
3D FOREX, LLCNFA4.776.6255.000.000-223.375
EASY FOREX US LTDNFA4.731.4325.000.000-268.568
FOREX CLUB FINANCIAL COMPANY INCNFA3.715.1635.000.000-1.284.837
E FX OPTIONS LLCNFA3.342.9435.000.000-1.657.057
GFS FOREX & FUTURES INCNFA3.259.6145.000.000-1.740.386
CMC MARKETS (US) LLCNFA2.330.2385.000.000-2.669.762
BACERA CORPORATIONNFA2.271.6265.000.000-2.728.374
I TRADE FX LLCNFA1.801.9605.000.000-3.198.040
ROYAL FOREX TRADING LLCNFA1.206.1155.000.000-3.793.885
SNC INVESTMENTS INCNFA1.130.6905.000.000-3.869.310
DIRECT FOREX LLCNFA1.117.3835.000.000-3.882.617
ONE WORLD CAPITAL GROUP LLCNFA1.078.9385.000.000-3.921.062
ADVANCED MARKETS INCNFA1.042.8135.000.000-3.957.187
IG FINANCIAL MARKETS INC.NFA1.010.3995.000.000-3.989.601
TRADITION SECURITIES AND FUTURES INCNFA786.2785.000.000-4.213.722
FXCM LLCNFA766.5595.000.000-4.233.441

A/O Date: 31/07/2007

Published on  Tue, Oct 23 2007, 15:15 GMT

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NFA New Regulation

Thu, Sep 27 2007, 15:38 GMT
by Marina Schiaffino

FXstreet.com


Up-to-date Information
· CFTC approves approves changes requested by the NFA
· The Brokers (re) Evolution: The CEO's reply -  FXDD, GFT and FXCM answer to the Open Letter
· NFA New Regulations for Brokers: Tony Juste speaks about it


NFA RegulationThere has been a lot of street talk in the Forex World regarding the new NFA (National Futures Association) regulation for Forex Dealers, whose main consequence is the raise of the required minimum capital to $5Million in cash plus a percent of the customer funds being held. 

In real numbers this should account for about $7-$11Million initial cash, a much higher value that the actual requirements of the NFA which ask for just $1Million of net capital.

The "Currency Trader" magazine states that the new regulation could potentially wipe out 90% of existing forex brokerages, although it’s likely major consolidation would occur if the rule passes.

You can review the opinion of our guru Tony Juste in the Advisor's Blog or review the transcript of the SPECIAL WEBINAR that he made on September 13th. We also have Francesc Riverola, CEO at FXstreet.com, following the current news in the FXstreet.com Weblog. 

You can review the replies of the CEO's of some of the main FX companies to the open letter that Francesc Riverola sent and see how the CEO's give their opinion about the new regulation.

There's a huge amount of Forums where people's talking about the subject. Check out the threads at:


Related Links

Is your forex dealer going to go out of business? by John Jagerson at Profiting with Forex

Brokers against which the NFA has taken legal action:

Other interesting links from the NFA:

Check a full list of regulated brokers on our Forex Brokers Table and find out which brokers are currently passing on the new standards.

Brokers above 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
GLOBAL FUTURES & FOREXCFTC54.662.9975.000.00049.662.997
OANDA CORPORATIONNFA50.837.8995.000.00045.837.899
FOREX CAPITAL MARKETS LLCNFA50.465.6945.000.00045.465.694
FOREX LIQUIDITY LLCNFA39.909.0315.000.00034.909.031
GAIN CAPITAL GROUP LLCNFA29.061.8305.000.00024.061.830
INTERBANK FX LLCNFA25.178.1455.000.00020.178.145
FX SOLUTIONS LLCNFA15.077.1335.000.00010.077.133
PEREGRINE FINANCIAL GROUP INCNFA12.781.6205.000.0007.781.620
IFX MARKETS INCNFA12.293.5495.000.0007.293.549
CAPITAL MARKET SERVICES LLCNFA11.849.4425.000.0006.849.442
ODL SECURITIES INCNFA10.822.7705.000.0005.822.770
IFSCL USA INCNFA7.130.9215.000.0002.130.921
HOTSPOT FXR LLCNFA5.990.6365.000.000990.636
MONEY GARDEN CORPNFA5.162.3345.000.000162.334

A/O Date: 31/07/2007

Brokers under 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
3D FOREX, LLCNFA4.776.6255.000.000-223.375
EASY FOREX US LTDNFA4.731.4325.000.000-268.568
FOREX CLUB FINANCIAL COMPANY INCNFA3.715.1635.000.000-1.284.837
E FX OPTIONS LLCNFA3.342.9435.000.000-1.657.057
GFS FOREX & FUTURES INCNFA3.259.6145.000.000-1.740.386
CMC MARKETS (US) LLCNFA2.330.2385.000.000-2.669.762
BACERA CORPORATIONNFA2.271.6265.000.000-2.728.374
I TRADE FX LLCNFA1.801.9605.000.000-3.198.040
ROYAL FOREX TRADING LLCNFA1.206.1155.000.000-3.793.885
SNC INVESTMENTS INCNFA1.130.6905.000.000-3.869.310
DIRECT FOREX LLCNFA1.117.3835.000.000-3.882.617
ONE WORLD CAPITAL GROUP LLCNFA1.078.9385.000.000-3.921.062
ADVANCED MARKETS INCNFA1.042.8135.000.000-3.957.187
IG FINANCIAL MARKETS INC.NFA1.010.3995.000.000-3.989.601
TRADITION SECURITIES AND FUTURES INCNFA786.2785.000.000-4.213.722
FXCM LLCNFA766.5595.000.000-4.233.441

A/O Date: 31/07/2007

Published on  Thu, Sep 27 2007, 15:38 GMT

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NFA New Regulation

Tue, Sep 4 2007, 10:13 GMT
by Marina Schiaffino

FXstreet.com


Up-to-date Information
· The Brokers (re) Evolution: The CEO's reply
· NFA New Regulations for Brokers: Tony Juste speaks about it


NFA RegulationThere has been a lot of street talk in the Forex World regarding the new NFA (National Futures Association) regulation for Forex Dealers, whose main consequence is the raise of the required minimum capital to $5Million in cash plus a percent of the customer funds being held.

In real numbers this should account for about $7-$11Million initial cash, a much higher value that the actual requirements of the NFA which ask for just $1Million of net capital.

The "Currency Trader" magazine states that the new regulation could potentially wipe out 90% of existing forex brokerages, although it’s likely major consolidation would occur if the rule passes.

You can review the opinion of our guru Tony Juste in the Advisor's Blog or check a full list of regulated brokers on our Forex Brokers Table. We also have Francesc Riverola, CEO at FXstreet.com, following the current news in the FXstreet.com Weblog.

You can review the replies of the CEO's of some of the main FX companies to the open letter that Francesc Riverola sent and see how the CEO's give their opinion about the new regulation.

There's a huge amount of Forums where people's talking about the subject. Check out the threads at:


Related Links

Is your forex dealer going to go out of business? by John Jagerson at Profiting with Forex

Brokers against which the NFA has taken legal action:

Other interesting links from the NFA:


Brokers above 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
GLOBAL FUTURES & FOREXCFTC49.664.1185.000.00044.664.118
OANDA CORPORATIONNFA49.222.3175.000.00044.222.317
FOREX CAPITAL MARKETS LLCNFA44.626.4925.000.00039.626.492
FOREX LIQUIDITY LLCNFA38.991.0555.000.00033.991.055
GAIN CAPITAL GROUP LLCNFA18.930.9145.000.00013.930.914
FX SOLUTIONS LLCNFA17.295.1305.000.00012.295.130
PEREGRINE FINANCIAL GROUP INCNFA13.758.6385.000.0008.758.638
CAPITAL MARKET SERVICES LLCNFA12.087.0455.000.0007.087.045
IFX MARKETS INCNFA10.378.7045.000.0005.378.704
INTERBANK FX LLCNFA8.584.4345.000.0003.584.434
GLOBAL FUTURES LLCNFA8.169.4085.000.0003.169.408
IFSCL USA INCNFA7.591.2325.000.0002.591.232
ODL SECURITIES INCNFA6.551.8595.000.0001.551.859
HOTSPOT FXR LLCNFA5.250.7385.000.000250.738

A/O Date: 06/30/2007

Brokers under 5 Million Net Capital
Futures Commission MerchantDSRO Adjusted Net CapitalNet Capital RequirementExcess Net Capital
EASY FOREX US LTDNFA4.810.0575.000.000-189.943
I TRADE FX LLCNFA3.957.3575.000.000-1.042.643
3D FOREX, LLCNFA3.653.7645.000.000-1.346.236
MONEY GARDEN CORPNFA3.584.6495.000.000-1.415.351
E FX OPTIONS LLCNFA3.158.8955.000.000-1.841.105
GFS FOREX & FUTURES INCNFA2.959.9205.000.000-2.040.080
FOREX CLUB FINANCIAL COMPANY INCNFA2.645.3345.000.000-2.354.666
ONE WORLD CAPITAL GROUP LLCNFA2.308.4605.000.000-2.691.540
FOREX INTERNATIONAL INVESTMENTS INCNFA2.133.9715.000.000-2.866.029
BACERA CORPORATIONNFA1.766.8825.000.000-3.233.118
CMC MARKETS (US) LLCNFA1.670.8835.000.000-3.329.117
SNC INVESTMENTS INCNFA1.524.3815.000.000-3.475.619
DIRECT FOREX LLCNFA1.458.5405.000.000-3.541.460
FORWARD FOREX INCNFA1.232.3615.000.000-3.767.639
ROYAL FOREX TRADING LLCNFA1.171.1435.000.000-3.828.857
IG FINANCIAL MARKETS INC.NFA1.006.7045.000.000-3.993.296
FXCM LLCNFA764.2415.000.000-4.235.759
NATIONS INVESTMENTS LLCNFA-1.162.2905.000.000-6.162.290

A/O Date: 06/30/2007

Published on  Tue, Sep 4 2007, 10:13 GMT


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