Notices to Members

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Notice I-18-16

September 20, 2018

Immediate attention required – Financial Requirements Section 12 – Increases in required minimum security deposits for forex transactions

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 Turkish lira and South African rand, 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:

Turkish lira - 12%

South African rand - 7%

These increases become effective, for both new and existing positions, at 5:00 p.m. CT on September 24, 2018 and remain in effect until further notice.

If you have any questions on these requirements, please contact Joe Hawrysz, Managing Director, Compliance (312-781-1331 or jhawrysz@nfa.futures.org).