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November 28, 2016
Immediate attention required - Financial Requirement Section 12 - Changes in required minimum security deposits for forex transactions
Increase in required minimum security deposits
Given the recent volatility in the currency markets, and the margin increases that CME and ICE have implemented with respect to foreign currency futures involving the Mexican peso, Japanese yen, and New Zealand dollar, the Executive Committee has determined to increase the minimum security deposits required to be collected and maintained by FDMs under NFA Financial Requirements Section 12 to the following:
Mexican peso - 8%
Japanese yen - 4%
New Zealand dollar - 3%
These increases become effective, for both new and existing positions, at 5 p.m. (CST) on December 5, 2016 and remain in effect until further notice.
Decrease in required minimum security deposits
Given the recent margin decreases that CME and ICE have implemented with respect to foreign currency futures involving the Swiss franc, the Executive Committee has also determined to reduce the minimum security deposit required for currency pairs involving the Swiss franc to 3% (from the current 5% requirement imposed in January 2015). The decrease becomes effective at 5 p.m. (CST) on December 5, 2016 and remains in effect until further notice.
If you have any questions on these requirements, please contact Sarah Walsh, Associate Director, Compliance (firstname.lastname@example.org or 312-781-1202) or Nicole Wahls, Manager, Compliance (email@example.com or 312-781-1886).