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Financial Requirements


[Effective dates of amendments: December 17, 1999; October 3, 2011 and June 11, 2021.]

(a) Each Leverage Transaction Merchant (hereinafter “Member LTM") must maintain "Adjusted Net Capital" (as defined in CFTC Regulation 1.17) equal to or in excess of the greatest of:

    (i) $20,000,000;

    (ii) the amount required by subsection (a)(i) above plus 5% of all liabilities owed to leverage customers (as leverage customer is defined in CFTC Regulation 31.4) exceeding $10,000,000; or

    (iii) for Member LTMs registered in another capacity, any other amount required by these Financial Requirements.

(b) Each Member LTM required to file any document with or give notice to the CFTC under CFTC Regulations 31.7 [Maintenance of minimum financial, cover and segregation requirements by leverage transaction merchants], 31.13 [Financial reports of leverage transaction merchants], 31.16 [Monthly reporting requirements], and 31.26 [Quarterly reporting requirements] shall also electronically file one copy of such document with NFA no later than the date such document or notice is due to be filed with or given to the CFTC.