Notices to Members

2024 | 2023 | 2022 | 2021 | 2020 | Show more years

Notice I-12-22

September 14, 2012

NFA's BASIC System - Public Display of FCM Financial Information

As you are aware, NFA Financial Requirements Section 16, which became effective on September 1, 2012, requires FCMs to submit certain financial related information to NFA on a monthly, semi-monthly and daily basis. At its August meeting, NFA's Board of Directors determined that certain FCM financial data should be made publicly available on NFA's website to assist customers in their due diligence review of an FCM.

The Board determined that the best way to display this information is on an FCM-by-FCM basis through NFA's BASIC system. Therefore, NFA is adding new sections to each FCM's BASIC page to disclose certain financial related information. Specifically, from each FCM's BASIC page, the public will be able to access three separate FCM Reports - FCM Capital Report; FCM Customer Segregated Funds Report; and FCM Customer Secured Funds Report. Below is a description of the information that will appear in each report:

FCM Capital Report (Updated Monthly)

The FCM Capital Report will show the most recent month's adjusted net capital; required net capital; and excess net capital. Viewers of this report will also have the option of viewing information for the previous 12 months (as we collect that information over the next 12 months).

FCM Customer Segregated Funds Report (Updated Semi-Monthly)

The FCM Customer Segregated Funds Report will show total funds held in segregated accounts; total funds required to be held in segregated accounts; and excess segregated funds. This report will also show the percentage of segregated funds that are held in cash and each of the permitted investments under CFTC Regulation 1.25. Finally, the report will indicate whether the FCM held any funds at a depository that is an affiliate of the FCM during that month. Again, the report will show the most recent semi-monthly information, but viewers will have the ability to view the previous 12 months.

FCM Customer Secured Amount Funds Report (Updated Semi-Monthly)

This report will be identical to the Customer Segregated Funds Report except that it will report the information with respect to customer secured amount funds.

FCMs are required to file the first full monthly report pursuant to Financial Requirements Section 16 by October 23, 2012 for the month ended September 30, 2012. NFA intends to add the FCM Financial Reports to each FCM's BASIC page by November 1, 2012. The semi-monthly information will be updated shortly after the filing of the required semi-monthly financial information and the monthly information will be updated shortly after the filing of the required monthly financial information.

FCMs that do not hold customer segregated or customer secured amount funds are not required to file any information with NFA pursuant to Section 16 regarding customer segregated and secured amount funds. For purposes of the BASIC display, the FCM's capital information will be extracted from the firm's monthly Form 1-FR or FOCUS Report for the FCM's Capital Report. The FCM Customer Segregated Funds Report and the FCM Secured Amount Funds Report will indicate that the FCM does not hold customer funds required to be segregated under CFTC Regulation 1.20 or customer secured amount funds under CFTC Regulation 30.7 and, therefore, no information is contained on the FCM Customer Segregated Funds Report or FCM Customer Secured Amount Funds Report.

If you have any questions on the changes to NFA's BASIC pages, please contact Brian Rothfuss, Manager, Compliance ( or 312-781-1439) or Valerie O'Malley, Senior Manager, Compliance ( or 312-781-1290).

Subscribe to NFA Email Communications