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October 25, 2007
NFA proposes reduction in assessment fees
On October 18, 2007, NFA's Executive Committee resolved to recommend to NFA's Board of Directors a reduction in NFA's assessment fees. At its upcoming meeting on November 15, 2007, NFA's Board of Directors will consider the Executive Committee's recommendation to reduce the assessment fee from $.02 per side (futures & options contracts) to $.01 per side, the lowest level in NFA's history and the eighth reduction in the fee in the last nine years.
Assuming the proposal is approved by both the Board of Directors and the CFTC, the reduction will become effective on January 1, 2008.
The Executive Committee felt, based on recent trends in public trading volume growth, that this fee reduction may be sustainable for at least two years. Obviously, the trend in trading volume may change. In the event that public trading volume is greater than expected, the Executive Committee may recommend another reduction in the fee. If trading volume is lower than projected, however, the Committee may recommend an increase in the fee at some point in the future.
For additional information, consult NFA's Interpretive Notice "NFA Bylaw 1301: NFA Assessment Fee Questions and Answers for FCMs" or contact NFA's Information Center at (800) 621-3570.