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For Immediate Release
May 21, 2004
National Futures Association plans reduction in membership dues and assessment fees
May 21, Chicago - The Board of Directors of National Futures Association (NFA) yesterday approved a 25% reduction in membership dues, effective July 1, 2004, and a 33% decrease in assessment fees, effective January 1, 2005. NFA will reduce the assessment fees from $0.03 to $0.02 per side for each futures contract and from $0.03 to $0.02 for each options contract traded. The assessment fee decrease is the seventh such decrease since July 1999.
"NFA's cost-containment efforts and the unprecedented increase in trading volume that has occurred over the past year have given us the opportunity to lower our membership dues and assessment fee rate while continuing to deliver effective regulatory programs and services," says NFA President Dan Roth.
NFA's assessment fee is levied on futures contracts and options on futures contracts traded on behalf of public customers. Public trading accounts for approximately 23 percent of total volume on the nation's futures exchanges.
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.