Notices to Members2020 | 2019 | 2018 | 2017 | 2016 | Show more years
April 21, 1999
On April 15, 1999, the Executive Committee of NFA resolved to recommend to NFA's Board of Directors a reduction in NFA's assessment fees. At its upcoming meeting on May 20, 1999, NFA's Board of Directors will consider the Executive Committee's recommendation to reduce the assessment fee from $.20 to $.18 per round-turn futures contract and from $.10 to $.09 per options transaction. Assuming the proposal is approved by both the Board of Directors and the CFTC, the reduction will become effective on July 1, 1999. Assessment fee levels for mini-contracts will remain at $.04 per round-turn futures contract and $.02 per option transaction. Members will receive further notification only if the changes do not become effective on July 1, 1999.
The reduction in assessment fees was recommended by NFA's Finance Committee and subsequently by the Executive Committee because NFA's fee income has been running above budget due to unanticipated increases in the volume of public contracts and effective cost containment by staff. The Finance Committee's goal was to reduce the level of NFA's working capital while limiting the possibility of future fluctuations in the level of assessment fees. As part of next year's budgeting process, the Finance Committee will analyze the most recent revenue and expenditure figures and will determine whether any additional actions are appropriate at that time.
If you have any questions, you may wish to refer to the Interpretive Notice at paragraph 9016 on page 9041 in your NFA Manual which answers frequently asked questions about the assessment fee. Or you may contact NFA's Information Center at (312) 781-1410.