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Interpretive Notices
9017 - NFA BYLAW 1301: FORMS AND PROCEDURES FOR ASSESSMENT FEE COMPUTATION
(Staff, revised July 1, 2002 and January 24, 2024)INTERPRETIVE NOTICE
Following are examples of forms and instructions to which Members may wish to refer when calculating NF A assessment fees. All FCM members will be required to submit the monthly assessment fee worksheet via EasyFile. Members may also wish to refer to Schedules I and II when developing systems to determine the appropriate fee.
If you will not be remitting an assessment fee to NFA, for example because your firm clears on a fully disclosed basis through another FCM which is remitting fees on your behalf, please complete the monthly assessment fee worksheet in EasyFile showing zero volume and fees and submit to NFA by the due date.
Bylaw 1302 provides that assessments based upon futures transactions shall be payable to NFA within 30 days after the end of each month for the transactions effected during that month.
NFA BYLAW 1301: FORMS AND PROCEDURES FOR ASSESSMENT FEE COMPUTATION
(Staff, revised November 26, 2001 and July 1, 2018)
INTERPRETIVE NOTICE
SCHEDULE I
FCM ASSESSMENT FEE SUMMARY REPORT
MONTH ENDED_______________
| NFA ID Number _______________ | VOLUME OF TRANSACTIONS NON-ASSESSED** |
VOLUME OF TRANSACTIONS ASSESSED ONLY |
FEES ($) | ||
| DOMESTIC TRADES | |||||
| A. | FUTURES CONTRACTS TRADED ON U.S. EXCHANGES (ROUND-TURNS) |
________ | ________ | ________ | |
| B. | SECURITY FUTURES CONTRACTS TRADED ON U.S. EXCHANGES (ROUND-TURNS) |
________ | ________ | ________ | |
| C. | OPTIONS TRADED ON U.S. EXCHANGES (NUMBER OF TRADES) |
________ | ________ | ________ | |
| FOREIGN TRADES | |||||
| D. | FUTURES CONTRACTS TRADED ON FOREIGN EXCHANGES FOR U.S. CUSTOMERS (ROUND-TURNS) |
________ | ________ | ||
| E. | OPTIONS CONTRACTS TRADED ON FOREIGN EXCHANGES FOR U.S. CUSTOMERS (NUMBER OF TRADES) |
________ | ________ | ||
| F. | TOTAL FCM ASSESSMENT FEE DUE MM/DD/YY | ________ | ________ | ||
| G. | LIST FCM REMITTING FEES ON BEHALF OF THIS ENTITY | ______________________________________ | |||
IF YOUR FIRM HAS NO ASSESSMENT FEES TO SUBMIT FOR THE MONTH, PLEASE INDICATE ZERO VOLUME AND FEES ABOVE. THEN SIMPLY SIGN AND RETURN THIS FORM BY THE DUE DATE.
I CERTIFY THE ABOVE INFORMATION IS TRUE AND CORRECT.
| ________________________ Authorized Signature | |
| ________________________ Name | |
| SEND A COPY OF THIS REPORT ALONG WITH YOUR REMITTANCE TO: | NFA P.O. BOX 98383 CHICAGO, ILLINOIS 60693-0001 ATTN: TREASURER’S OFFICE |
** FCM NON-ASSESSED VOLUME WOULD INCLUDE ALL VOLUME THAT IS NOT SUBJECT TO THE NFA ASSESSMENT FEE. IT WOULD INCLUDE TRANSACTIONS OF CUSTOMERS EXEMPT FROM THE NFA ASSESSMENT FEE AS WELL AS NON-CUSTOMER AND PROPRIETARY TRADING ACTIVITY.
(Staff, revised January 1, 2002; April 1, 2002; July 1, 2002; January 1, 2003; January 1, 2008 and January 1, 2011)
INTERPRETIVE NOTICE
SCHEDULE II
NATIONAL FUTURES ASSOCIATION
Box 98383
Chicago, Illinois 60693-0001
FCM ASSESSMENT FEE WORKSHEET
MONTH ENDED __ / __ / __
_________________
FCM Member
The information concerning transactions provided on this form will be utilized solely for purposes of computing the applicable NFA Assessment Fee and will be treated as confidential by NFA. This information may be supplied to the CFTC upon its request. However, it is the opinion of NFA that such information my be withheld by the CFTC from public disclosure under applicable provisions of the Freedom of Information Act, 5 U.S.C. § 552.
| Futures Contracts Traded On U.S. Exchanges | Total | |
| 1. | Total U.S. futures contracts round-turns | _____ |
| 2. | Less: Round-turns of customers having "privileges of membership" on exchange where contract is executed | (_____) |
| 3. | Less: Round-turns in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM | (_____) |
| 4. | Less: Round-turns in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf | (_____) |
| 5. | Less: Round-turns carried in an account owned by a business affiliate of an FCM executed on an exchange of which the FCM is a member | (_____) |
| 6. | Total assessment fees due on futures contracts traded on U.S. Exchanges (Line 1 less Lines 2-5) | _____x$.04= $_____ |
| Futures Contracts Traded On Foreign Exchanges for U.S. Customers | ||
| 7. | Total foreign futures contract round-turns | _____ |
| 8. | Less: Round-turns in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM | (_____) |
| 9. | Less: Round-turns in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf | (_____) |
| 10. | Assessable volume (Line 7 less Lines 8-9) | _____x$.04= $_____ |
| Options Traded On U.S. Exchanges | ||
| 11. | Total U.S. exchange-traded option trades | _____ |
| 12. | Less: Trades of customers having "privileges of membership" on exchange where contract is executed | (_____) |
| 13. | Less: Trades in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM | (_____) |
| 14. | Less: Trades in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf | (_____) |
| 15. | Less: Trades carried in an account owned by a business affiliate of an FCM executed on an exchange of which the FCM is a member | (_____) |
| 16. | Total assessment fees due on options contracts traded on U.S. Exchanges (Line 11 less Lines 12-15) | $_____ |
| Options Traded On Foreign Exchanges For U.S. Customers | ||
| 17. | Total foreign exchange-traded option trades | _____ |
| 18. | Less: Trades in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM | (_____) |
| 19. | Less: Trades in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf | (_____) |
| 20. | Assessable volume (Line 17 less Lines 18-19) | _____x$.02= $_____ |
| 21. | Total NFA assessment fee (Lines 6, 10, 16, and 20) | $_____ |
Transfer the information on Lines 6, 10, 16, 20, and 21 to the FCM Assessment Fee Summary Report.
(Staff, revised July 1, 2002; January 1, 2003 and January 1, 2011)
INTERPRETIVE NOTICE
NATIONAL FUTURES ASSOCIATION
FCM ASSESSMENT FEE WORKSHEET INSTRUCTIONS
The NFA assessment fee is a transaction fee payable on round-turns in commodity futures contracts and trades in exchange-traded options. The attached worksheet is intended to assist the FCM Member and NFA in calculating the required payment. The following are instructions for completion of the worksheet.
Line 1: Total U.S. futures contract round-turns-Provide total round-turn futures transactions closed during the month for all accounts. You must include all transactions on a domestic exchange. You should exclude all transactions placed through another FCM on a fully disclosed basis for which the clearing FCM has collected and remitted the assessment fee to NFA.
Line 2: Round-turns of customers having "privileges of membership" on exchange where contract is executed-List the number of round-turn transactions for which the account holder was recognized as a member by the domestic exchange.
Line 3: Round-turns in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM-List the number of round-turn transactions in an omnibus account carried for another FCM Member of NFA for which the other FCM is paying the assessment.
Line 4: Round-turns in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf-Indicate the number of round-turn transactions in an omnibus account cleared by another FCM which has agreed to remit the NFA Fee.
Line 5: Round-turns carried in an account owned by a business affiliate of an FCM executed on an exchange of which the FCM is a member-List the number of round-turn transactions (not included on Line 2) carried for a business affiliate that directly or indirectly owns 100 percent of or is owned 100 percent by or has 100 percent ownership in common with the FCM.
Line 7: Total foreign futures contract round-turns-Provide total round-turn futures transactions closed during the month for U.S. customers. (A U.S. customer includes any customer who resides in the United States, its territories or possessions.) You should exclude all transactions placed through another FCM on a fully disclosed basis for which the clearing FCM has collected and remitted the assessment fee to NFA.
Line 8: Round-turns in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM-List the number of round-turn transactions in an omnibus account carried for another FCM Member of NFA for which the other FCM is paying the assessment.
Line 9: Round-turns in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf-Indicate the number of round-turn transactions in an omnibus account cleared by another FCM which has agreed to remit the NFA Fee. Attach a list of such clearing brokers to the FCM Assessment Fee Summary Report.
Line 10: Assessable volume-This amount is total foreign futures round-turns less exclusions. The $.04 per round-turn assessment fee is multiplied by this number to arrive at the basic foreign futures contract assessment.
Line 11: Total U.S. exchange-traded option trades-Provide total trades (purchases or sales, not exercises or expirations) in the month for all accounts. You must include all transactions on a domestic exchange. You should exclude all trades placed through another FCM on a fully disclosed basis for which the clearing FCM has collected and remitted the assessment fee to NFA.
Line 12: Trades of customers having "privileges of membership" on exchange where contract is executed-List the number of trades for which the account holder was recognized as a member by the domestic exchange.
Line 13: Trades in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM-List the number of trades in an omnibus account carried for another FCM Member of NFA for which the other FCM is paying the assessment.
Line 14: Trades in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf-Indicate the number of option trades in an omnibus account cleared by another FCM which has agreed to remit the NFA fee on your behalf. Attach a list of such clearing brokers to the FCM Assessment Fee Summary Report.
Line 15: Option trades carried in an account owned by a business affiliate of an FCM executed on an exchange of which the FCM is a member-Include all options trades (not included on Line 11) for a business affiliate that directly or indirectly owns 100 percent of or is owned 100 percent by or has 100 percent ownership in common with the FCM.
Line 17: Total foreign exchange-traded option trades-Provide total trades (purchases or sales, not exercises or expirations) in the month for U.S. customers. (A U.S. customer includes any customer who resides in the United States, its territories or possessions.) You should exclude all trades placed through another FCM on a fully disclosed basis for which the clearing FCM has collected and remitted the assessment fee to NFA.
Line 18: Trades in an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM-List the number of trades in an omnibus account carried for another FCM Member of NFA for which the other FCM is paying assessment.
Line 19: Trades in an omnibus account cleared by another FCM Member for which the clearing FCM Member has agreed to pay the NFA assessment fee on your behalf-Indicate the number of option trades in an omnibus account cleared by another FCM which has agreed to remit the NFA fee on your behalf. Attach a list of such clearing brokers to the FCM Assessment Fee Summary Report.
Line 20: Assessable volume-This amount is total foreign exchange-traded option trades less exclusions. The $.02 per trade assessment fee is multiplied by this figure to arrive at the assessment for foreign exchange-traded options.
Line 21: Total NFA assessment fee-This is the sum of the futures and exchange-traded option Assessment Fees as listed in Lines 6, 10, 16 and 20.