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Introducing Brokers (IBs)

An Introducing Broker (IB) is an individual or organization that solicits or accepts orders to buy or sell futures contracts, forex, commodity options, or swaps but does not accept money or other assets from customers to support such orders. IBs must carry all accounts, including customer, proprietary and foreign futures, with an FCM or RFED on a fully disclosed basis. Customer accounts of guaranteed IBs must be carried by the guarantor FCM or RFED while the customer accounts of Independent IBs may be carried by one or more FCM or RFED.

Independent IBs are required to maintain accounting systems that are similar to those of any other business. Records must be prepared following generally accepted accounting principles. Independent IBs must maintain a minimum net capital requirement and adhere to financial reporting requirements. More...

Guaranteed IBs that have filed the appropriate guarantee agreement are not subject to the minimum net capital or financial reporting requirements. More...

All IBs are required to have an anti-money laundering (AML) compliance program in place pursuant to the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (Title III), which was signed into law on October 26, 2001. NFA rules outline the content and scope of this program and NFA has developed numerous resources to assist Members in meeting this regulatory responsibility. More...

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