Proposed Rule

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PROPOSED AMENDMENTS
(additions are underscored and deletions are stricken through)

FINANCIAL REQUIREMENTS

SECTION 1. FUTURES COMMISSION MERCHANT FINANCIAL REQUIREMENTS

(a) Each Member that is registered or required to be registered with the Commodity Futures Trading Commission (hereinafter "CFTC") as a Futures Commission Merchant (hereinafter "Member FCM") must maintain "Adjusted Net Capital" (as defined in CFTC Regulation 1.17) equal to or in excess of the greatest of:

    (i) $250,000 $500,000;

* * *

SECTION 5. INTRODUCING BROKER FINANCIAL REQUIREMENTS

(a) Each Member IB, except an IB operating pursuant to a guarantee agreement which meets the requirements set forth in CFTC Regulation 1.10(j), must maintain Adjusted Net Capital (as defined in CFTC Regulation 1.17) equal to or in excess of the greatest of:

    (i) $30,000 $45,000;

* * *

SECTION 11. FOREX DEALER MEMBER FINANCIAL REQUIREMENTS

(a) Each Forex Dealer Member must maintain "Adjusted Net Capital" (as defined in CFTC Regulation 1.17) equal to or in excess of the greatest of:

    (i) $250,000 $1,000,000;

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