Notices to Members

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Notice I-21-27

August 10, 2021

Financial Requirements Section 12 — Changes in required minimum security deposits for certain forex transactions

NFA Financial Requirements Section 12 requires forex dealer members to collect and maintain a minimum security deposit of 2% of the notional value of transactions in ten listed major currencies and 5% of the notional value of other transactions. In 2016, NFA's Executive Committee, pursuant to its authority under Section 12, increased the minimum security deposit for currency pairs involving the British pound to 5% and the minimum security deposit for currency pairs involving the Japanese yen to 4%.

The Executive Committee recently reviewed these increases and determined to reduce the minimum security deposit for currency pairs involving the British pound to 3% and for currency pairs involving the Japanese yen to 2%. The decreases are effective immediately.

If you have any questions on these requirements, please contact Matt Childers, Director, Compliance (mchilders@nfa.futures.org or 312-781-1552).

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