NFA's Logo
Home > Compliance > Introducing Brokers (IBs) > Subordinated Loan Agreements ("SLA")

Subordinated Loan Agreements ("SLA")

CFTC Regulation 1.17 defines assets and liabilities that effect a firm's net capital position. When computing net capital, an FCM or IB may exclude a liability that is subordinated to the claims of all general creditors pursuant to a satisfactory subordination agreement. A subordinated loan agreement must be filed with NFA at least ten days prior to the proposed effective date of the agreement and cannot be considered "satisfactory" until NFA finds the agreement acceptable. In order to facilitate the approval process for subordinated loan agreements ("SLA"), NFA recommends that the FCM or IB use the following templates as a guide when drafting an SLA:

Online Registration System


Login to ORS

Forgot Password?      Enroll Now

Electronic Filings

NFA Members can file many of their required documents electronically.

Submit a Filing 

Search NFA Manual

You can search the NFA Manual by section, Rule number and/or keywords.

Search OR View the entire Manual.
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
Site Index | Contact NFA | News Center | FAQs | Career Opportunities | Industry Links | Home
© National Futures Association All Rights Reserved. | Disclaimer and Privacy Policy