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August 05, 1998
On May 21, 1998, the Board of Directors of NFA approved a flat assessment fee for mini-contracts. The assessment fee will be $0.04 per roundturn futures mini-contract and $0.02 per option mini-contract transaction. The new fees will become effective on October 1, 1998.
The Board determined that the multiple rates currently being charged on mini-contracts could be confusing especially when trying to explain the rates to customers. In addition, they could be hard to program into computer systems, since until recently, some of the rates were in fractional pennies. By setting a flat rate for all mini-contracts, these problems should be alleviated. The Board set the rates at the lowest rate currently being charged for mini-contracts. Although this could result in a loss of revenue for NFA, depending on trading volume, the lowest rate was preferable to raising the rate on any contracts. The result is that the rate on 16 mini-contracts will decrease, the remainder will remain the same.
If you have any questions, you may contact NFA's Information Center at (312) 781-1410.