The Brokers (re) Evolution

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, 15:16 GMT

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