Proposed NFA rules seen as catalyst for consolidation in US retail: The Weekly FiX
The proposal is due to be discussed by the NFA’s board in August. If ratified, it will then go to the Commodity Futures Trading Commission, which effectively acts as the NFA’s gatekeeper. The CFTC will almost certainly rubber-stamp it.
Up to $5 million
In its proposal, the NFA points out that the under-capitalization of many FDMs is the main cause of many of the problems that have plagued the sector, It is therefore looking to raise FDMs’ net capital requirements from $1 million to $5 million.
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