Notices to Members

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Notice I-21-39

December 01, 2021

Reminder: Increases to NFA Member swap dealer and major swap participant dues effective January 1, 2022

NFA Bylaw 1301 imposes annual dues on NFA Member swap dealers (SD) and major swap participants (MSP). The current annual dues amounts have remained unchanged, except for a reduction in MSP annual dues, since NFA established its swap regulatory program in 2013. Given the expansion of NFA's swaps regulatory program over the past eight years, NFA's Board of Directors unanimously approved the following increases to these annual dues amounts, which will become effective January 1, 2022 for dues payable after that date:

  • Annual dues for large financial institution (LFI) SD Members will increase from $1,000,000 to $1,300,000;
  • Annual dues for non-LFI SD Members will increase from $250,000 to $325,000;
  • Annual dues for SD Members that are affiliates of SD Members paying dues in one of the above categories will increase from $150,000 to $200,000; and
  • Annual dues for MSP Members will increase from $150,000 to $200,000.

For more information on the increases, see Notice to Members I-21-16.

If you have any questions regarding the dues increases, please contact NFA's Information Center (800-621-3570 or

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