2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996|
Email This to a Friend
January 29, 2004
Eurex U.S. Trades Subject to NFA's Assessment Fee
NFA has received inquiries regarding how the NFA assessment fee will apply to trades on U.S. Futures Exchange L.L.C. (Eurex U.S.). Eurex U.S. transactions will be subject to the NFA assessment fee just like futures and options contracts traded on any other U.S. exchange.
As you may be aware, NFA Bylaw 1301(b) provides that each FCM Member shall pay to NFA an assessment fee currently equal to $.06 for each commodity futures contract traded on a round-turn basis and $.03 for each option contract traded on a per trade basis carried by it for a customer.
NFA Bylaw 1301(b)(i) exempts transactions from the assessment fee only if they are for the proprietary account of a person having privileges of membership on the exchange where the trades are executed or a business affiliate with 100% common ownership with that person. This means that proprietary trades for Eurex U.S. clearing members and trading members and their affiliates with 100% common ownership are exempt from the assessment fee. However, trades for officers, principals, and employees of these members and their affiliates, as well as trades for affiliates that are less than 100% commonly owned, do not qualify for the exemption. Authorized traders must also pay the assessment fee on any trades that are not proprietary trades for clearing and trading members and their affiliates with 100% common ownership.
Questions concerning the application of the assessment fee to Eurex U.S. should be directed to David Hawrysz, Treasurer, at email@example.com or (312) 781-1384 or Scott Reeves, Director, Treasurer's Office, at firstname.lastname@example.org or (312) 781-1382.