SELECTED FCM FINANCIAL DATA AS OF 

February 28, 2015

FROM REPORTS FILED BY 

March 24, 2015

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A B C D E F G H I J K L M N O P Q R S T U

Futures Commission Merchant / 

Retail Foreign Exchange Dealer

Registered 

As DSRO As ofDate Adjusted Net Capital Net Capital Requirement Excess Net Capital Customers' Assets in Seg

Customers' Seg 

Required 4d(a)(2)

Excess/Deficient 

Funds in Seg

Target Residual 

Interest in Seg

Funds in Separate 

Section 30.7 

Accounts

Customer Amount 

Pt. 30 Required

Excess/Deficient 

Funds in Separate 

Section 30.7 

Accounts

Target Residual 

Interest in Section 

30.7

Funds in Separate 

Cleared Swap 

Segregation

Customer Amount 

Cleared Swap Seg 

Required

Excess/Deficient 

Funds in Cleared 

Swap Seg Accounts

Target Residual 

Interest in Cleared 

Swap Seg

Total Amount of 

Retail Forex 

Obligation

(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) (m) (n) (o) (p) (q)

1 ABN AMRO CLEARING CHICAGO LLC FCM BD CBOT 2/28/2015 640,008,278 192,838,448 447,169,830 3,047,927,522 2,751,921,043 296,006,479 149,665,722 176,138,382 132,065,268 44,073,114 19,809,790 0 0 0 0 0

2 ADM INVESTOR SERVICES INC FCM CBOT 2/28/2015 292,165,752 163,929,254 128,236,498 3,861,847,105 3,585,320,478 276,526,627 120,000,000 256,505,610 198,357,595 58,148,015 20,000,000 13,220,833 2,538,457 10,682,376 8,000,000 0

3 ADVANTAGE FUTURES LLC FCM CME 2/28/2015 23,535,785 13,413,469 10,122,316 569,203,443 554,021,360 15,182,083 8,500,000 33,647,296 31,676,790 1,970,506 1,000,000 0 0 0 0 0

4 AMP GLOBAL CLEARING LLC FCM NFA 2/28/2015 2,616,515 1,500,000 1,116,515 55,052,991 53,375,883 1,677,108 900,000 1,180,138 847,957 332,181 150,000 0 0 0 0 0

5 BARCLAYS CAPITAL INC FCM BD NYME 2/28/2015 6,021,821,563 1,401,493,604 4,620,327,959 7,014,331,768 6,295,755,219 718,576,549 346,266,537 2,952,837,485 2,709,070,905 243,766,580 135,995,359 6,737,984,772 5,801,587,749 936,397,023 208,277,000 0

6 BGC FINANCIAL LP FCM BD NFA 2/28/2015 52,695,369 1,599,284 51,096,085 0 0 0 0 0 0 0 0 0 0 0 0 0

7 BNP PARIBAS PRIME BROKERAGE INC FCM BD NYME 2/28/2015 3,195,962,930 257,924,498 2,938,038,432 3,035,886,380 2,696,979,526 338,906,854 269,697,953 23,685,591 10,654,097 13,031,494 10,000,000 10,710,720 2,610,282 8,100,438 5,000,000 0

8 BNP PARIBAS SECURITIES CORP FCM BD CBOT 2/28/2015 1,498,955,811 299,046,754 1,199,909,057 1,208,670,668 983,564,575 225,106,093 196,712,915 54,217,330 37,671,882 16,545,448 3,767,188 933,835,190 798,731,704 135,103,486 79,873,170 0

9 BOCI COMMODITIES & FUTURES USA LLC FCM CME 2/28/2015 12,910,541 1,000,000 11,910,541 203 0 203 1 184 0 184 1 6 0 6 1 0

10 CANTOR FITZGERALD & CO FCM BD CBOT 2/28/2015 239,600,315 19,043,174 220,557,141 4,969,921 0 4,969,921 3,000,000 0 0 0 0 0 0 0 0 0

11 CHS HEDGING LLC FCM CBOT 2/28/2015 29,042,979 9,714,971 19,328,008 155,732,711 128,145,025 27,587,686 13,100,000 1,737,912 319,937 1,417,975 545,000 0 0 0 0 0

12 CITIGROUP GLOBAL MARKETS INC FCM BD SD CBOT/NFA 2/28/2015 6,363,343,402 1,335,806,756 5,027,536,646 6,672,969,534 6,309,434,155 363,535,379 330,600,000 1,006,707,261 810,672,266 196,034,995 150,000,000 6,489,114,787 6,256,869,137 232,245,650 203,875,000 0

13 CREDIT SUISSE SECURITIES (USA) LLC FCM BD CBOT 2/28/2015 8,101,469,394 2,236,072,283 5,865,397,111 9,729,675,584 9,260,474,981 469,200,603 463,023,749 3,842,573,372 3,210,705,297 631,868,075 160,535,265 15,365,078,401 12,849,125,137 2,515,953,264 642,456,257 0

14 CUNNINGHAM COMMODITIES LLC FCM CBOT 2/28/2015 5,294,505 1,182,000 4,112,505 64,981,166 60,876,088 4,105,078 3,050,000 366,159 87,319 278,840 100,000 0 0 0 0 0

15 DAIWA CAPITAL MARKETS AMERICA INC FCM BD CME 2/28/2015 529,091,002 14,194,309 514,896,693 5,456,015 0 5,456,015 1 549,377 0 549,377 1 0 0 0 0 0

16 DEUTSCHE BANK SECURITIES INC FCM BD CBOT 2/28/2015 11,466,872,313 777,821,667 10,689,050,646 3,473,074,581 2,959,232,162 513,842,419 500,000,000 1,110,280,842 901,806,303 208,474,539 200,000,000 2,146,883,033 1,845,815,917 301,067,116 250,000,000 0

17 DORMAN TRADING LLC FCM CME 2/28/2015 9,994,016 2,087,796 7,906,220 175,598,968 171,484,555 4,114,413 2,000,000 2,665,681 2,052,672 613,009 200,000 0 0 0 0 0

18 E D & F MAN CAPITAL MARKETS INC FCM BD CME 2/28/2015 67,530,926 23,472,466 44,058,460 706,266,398 685,805,660 20,460,738 9,000,000 46,941,341 45,182,111 1,759,230 1,000,000 0 0 0 0 0

19 E TRADE CLEARING LLC FCM BD NFA 2/27/2015 797,342,679 169,021,429 628,321,250 58,026,424 44,253,787 13,772,637 10,000,000 1,444,573 435,493 1,009,080 1,000,000 0 0 0 0 0

20 EFL FUTURES LIMITED FCM CME 2/28/2015 35,092,737 16,139,897 18,952,840 225,637,455 212,683,131 12,954,324 5,000,000 0 0 0 0 0 0 0 0 0

21 FCSTONE LLC FCM CME 2/28/2015 121,410,424 63,540,061 57,870,363 1,702,535,343 1,657,738,326 44,797,017 24,000,000 61,763,081 43,656,774 18,106,307 8,000,000 0 0 0 0 0

22 FOREX CAPITAL MARKETS LLC FCMRFD SD NFA 2/28/2015 84,491,613 28,116,685 56,374,928 0 0 0 0 0 0 0 0 0 0 0 0 172,333,690

23 GAIN CAPITAL GROUP LLC FCMRFD NFA 2/28/2015 41,269,160 24,938,979 16,330,181 225,074,884 211,115,408 13,959,476 2,500,000 5,734,521 2,994,502 2,740,019 312,500 0 0 0 0 108,779,575

24 GH FINANCIALS LLC FCM CME 2/28/2015 15,381,317 3,619,651 11,761,666 53,147,795 50,602,131 2,545,664 1,000,000 300,577 1,289 299,288 75,000 0 0 0 0 0

25 GOLDMAN SACHS & CO FCM BD SD CBOT/NFA 2/28/2015 15,952,180,358 2,566,687,096 13,385,493,262 24,209,931,618 23,672,848,606 537,083,012 475,000,000 11,907,525,698 11,277,761,682 629,764,016 475,000,000 3,734,543,511 3,365,353,450 369,190,061 350,000,000 0

26 GOLDMAN SACHS EXECUTION & CLEARING LP FCM BD CME 2/28/2015 1,796,018,577 141,911,955 1,654,106,622 1,434,375,111 558,764,123 875,610,988 540,000,000 69,447,315 19,451,992 49,995,323 40,000,000 0 0 0 0 0

27 HSBC SECURITIES USA INC FCM BD CME 2/28/2015 1,023,213,892 273,055,490 750,158,402 1,169,030,274 1,063,530,410 105,499,864 50,000,000 212,812,671 164,381,480 48,431,191 37,455,533 1,179,941,295 1,026,462,746 153,478,549 30,000,000 0

28 IBFX INC RFED SD NFA 2/28/2015 36,574,501 20,000,000 16,574,501 0 0 0 0 0 0 0 0 0 0 0 0 47,254,735

29 INTERACTIVE BROKERS LLC FCM BD NFA 2/27/2015 2,229,209,037 267,144,418 1,962,064,619 2,716,634,825 2,498,347,290 218,287,535 155,000,000 523,536,919 425,186,046 98,350,873 80,000,000 0 0 0 0 47,945,605

30 IRONBEAM INC FCM NFA 2/28/2015 2,235,577 1,000,000 1,235,577 40,547,576 39,247,321 1,300,255 800,000 110,914 0 110,914 50,000 0 0 0 0 0

31 ITG DERIVATIVES LLC FCM BD NFA 2/28/2015 2,133,076 1,000,000 1,133,076 0 0 0 0 0 0 0 0 0 0 0 0 0

32 JEFFERIES LLC FCM BD CBOT 2/28/2015 954,261,225 116,862,130 837,399,095 1,857,130,124 1,742,122,183 115,007,941 90,000,000 214,579,801 144,070,093 70,509,708 50,000,000 18,893,901 6,199,511 12,694,390 5,000,000 0

33 JP MORGAN CLEARING CORP FCM BD NFA 2/28/2015 7,865,199,351 1,841,426,211 6,023,773,140 1,075,977,786 727,491,437 348,486,349 65,474,229 640,060,127 450,963,804 189,096,323 40,586,742 250,000 0 250,000 1 0

34 JP MORGAN SECURITIES LLC FCM BD SD CEI/NFA 2/28/2015 14,366,419,201 2,452,775,712 11,913,643,489 20,734,256,938 18,531,726,947 2,202,529,991 1,667,855,425 4,086,287,340 3,570,078,319 516,209,021 321,307,049 6,520,044,118 5,877,323,809 642,720,309 528,959,143 0

35 MACQUARIE FUTURES USA LLC FCM CBOT 2/28/2015 168,209,927 143,448,281 24,761,646 1,795,957,158 1,640,637,277 155,319,881 90,000,000 20,188,285 5,355,081 14,833,204 374,856 21,728,531 3,421,966 18,306,565 239,538 0

36 MAREX NORTH AMERICA LLC FCM CME 2/28/2015 16,516,729 11,351,098 5,165,631 139,002,528 134,830,441 4,172,087 3,500,000 38,915,102 37,569,673 1,345,429 1,000,000 0 0 0 0 0

37 MB TRADING FUTURES INC RFED NFA 2/28/2015 24,271,160 20,475,745 3,795,415 0 0 0 0 0 0 0 0 0 0 0 0 19,514,899

38 MCVEAN TRADING & INVESTMENTS LLC FCM NFA 2/28/2015 13,406,627 3,983,062 9,423,565 919,283,401 898,481,168 20,802,233 18,000,000 2,417,861 0 2,417,861 400,000 0 0 0 0 0

39 MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED FCM BD CBOT 2/28/2015 10,634,430,390 1,448,249,930 9,186,180,460 12,180,548,173 11,811,034,494 369,513,679 200,000,000 3,198,528,909 2,991,482,257 207,046,652 150,000,000 3,500,920,790 3,234,918,498 266,002,292 150,000,000 0

40 MERRILL LYNCH PROFESSIONAL CLEARING CORP FCM BD NFA 2/28/2015 2,758,896,527 532,525,874 2,226,370,653 1,348,929,976 738,870,191 610,059,785 300,000,000 4,253,177 547,812 3,705,365 1,000,000 0 0 0 0 0

41 MID CO COMMODITIES INC FCM NFA 2/28/2015 8,222,817 3,933,368 4,289,449 30,995,071 22,796,925 8,198,146 5,000,000 0 0 0 0 0 0 0 0 0

42 MINT BROKERS FCM BD NFA 2/28/2015 9,056,481 1,000,000 8,056,481 0 0 0 0 0 0 0 0 0 0 0 0 0

43 MITSUBISHI UFJ SECURITIES USA INC FCM BD NFA 2/28/2015 431,983,054 1,058,060 430,924,994 0 0 0 0 0 0 0 0 0 0 0 0 0

44 MIZUHO SECURITIES USA INC FCM BD SD CME/NFA 2/28/2015 823,160,626 273,955,335 549,205,291 3,089,803,726 2,885,603,881 204,199,845 135,000,000 882,265,519 781,617,001 100,648,518 70,000,000 26,300,267 831,205 25,469,062 15,000,000 0

45 MORGAN STANLEY & CO LLC FCM BD SD CME/NFA 2/28/2015 6,228,189,393 1,729,119,551 4,499,069,842 12,484,448,822 12,272,246,127 212,202,695 105,000,000 3,586,187,772 3,373,401,786 212,785,986 105,000,000 8,034,259,493 7,907,666,599 126,592,894 92,000,000 0

46 NANHUA USA LLC FCM CME 2/28/2015 7,487,839 1,000,000 6,487,839 5,000,000 0 5,000,000 1,000,000 0 0 0 0 0 0 0 0 0

47 NEUBERGER BERMAN LLC FCM BD NFA 2/28/2015 63,240,962 1,500,000 61,740,962 0 0 0 0 0 0 0 0 0 0 0 0 0

48 NOMURA SECURITIES INTERNATIONAL INC FCM BD CBOT 2/28/2015 1,958,483,274 82,295,236 1,876,188,038 166,192,242 116,117,570 50,074,672 15,000,000 20,971,191 4,486,765 16,484,426 1,000,000 49,261,337 26,133,319 23,128,018 20,000,000 0

49 OANDA CORPORATION FCMRFD NFA 2/28/2015 82,198,761 25,660,501 56,538,260 0 0 0 0 0 0 0 0 0 0 0 0 123,210,023

50 OPTIONSXPRESS INC FCM BD NFA 2/28/2015 128,201,424 6,501,968 121,699,456 118,867,848 85,405,329 33,462,519 8,540,533 3,856,526 2,751,355 1,105,171 275,135 0 0 0 0 0

51 PHILLIP CAPITAL INC FCM CME 2/28/2015 26,950,569 20,000,000 6,950,569 250,394,542 232,575,561 17,818,981 11,628,742 10,348,609 6,941,493 3,407,116 347,111 0 0 0 0 0

52 RAND FINANCIAL SERVICES INC FCM CME 2/28/2015 81,235,851 16,151,203 65,084,648 254,053,600 210,799,500 43,254,100 6,324,000 44,604,300 22,248,700 22,355,600 667,500 0 0 0 0 0

53 RBC CAPITAL MARKETS LLC FCM BD CME 2/28/2015 1,321,756,301 173,864,606 1,147,891,695 2,254,474,170 2,071,298,795 183,175,375 160,000,000 156,337,208 116,571,964 39,765,244 20,000,000 75,035,213 30,000 75,005,213 40,000,000 0

54 RBS SECURITIES INC FCM BD CBOT 2/28/2015 4,866,808,704 134,063,124 4,732,745,580 1,888,115,293 1,717,927,587 170,187,706 125,000,000 178,774,265 54,188,482 124,585,783 100,000,000 87,461,181 0 87,461,181 80,000,000 0

55 RJ OBRIEN ASSOCIATES LLC FCM SD CME/NFA 2/28/2015 197,231,742 143,587,659 53,644,083 4,157,064,532 4,071,143,853 85,920,679 40,000,000 250,541,123 225,183,644 25,357,479 20,000,000 0 0 0 0 1,021,766

56 ROSENTHAL COLLINS GROUP LLC FCM CME 2/28/2015 76,875,417 55,853,777 21,021,640 1,416,360,308 1,389,828,688 26,531,620 18,000,000 31,104,404 18,972,609 12,131,795 9,000,000 0 0 0 0 0

57 SANFORD C BERNSTEIN & CO LLC FCM BD NFA 2/28/2015 182,072,636 24,622,168 157,450,468 0 0 0 0 0 0 0 0 0 0 0 0 0

58 SANTANDER INVESTMENT SECURITIES INC FCM BD NYME 2/28/2015 241,313,984 11,447,149 229,866,835 707,206,508 704,844,542 2,361,966 2,000,000 0 0 0 0 0 0 0 0 0

59 SG AMERICAS SECURITIES LLC FCM BD CME 2/28/2015 3,334,312,068 1,092,740,300 2,241,571,768 14,823,036,677 13,845,042,056 977,994,621 500,000,000 3,741,658,832 3,311,593,332 430,065,500 255,000,000 215,398,215 40,154,875 175,243,340 75,000,000 0

60 STATE STREET GLOBAL MARKETS LLC FCM BD CME 2/28/2015 391,878,921 32,803,986 359,074,935 479,914,178 357,637,761 122,276,417 17,881,888 47,722,330 4,897,507 42,824,823 15,000,000 80,712,403 0 80,712,403 50,000,000 0

61 STRAITS FINANCIAL LLC FCM CME 2/28/2015 23,981,475 11,820,929 12,160,546 575,173,577 559,406,764 15,766,813 2,000,000 41,356,216 35,186,265 6,169,951 300,000 0 0 0 0 0

62 TD AMERITRADE FUTURES & FOREX LLC FCM NFA 2/28/2015 1,992,716 1,000,000 992,716 0 0 0 0 0 0 0 0 0 0 0 0 0

63 TD AMERITRADE INC FCM BD NFA 2/28/2015 306,264,569 10,982,436 295,282,133 203,201,659 146,558,893 56,642,766 18,000,000 0 0 0 0 0 0 0 0 0

64 TIMBER HILL LLC FCM BD CME 2/28/2015 341,963,349 67,162,691 274,800,658 874,598,181 869,547,068 5,051,113 5,000,000 0 0 0 0 0 0 0 0 0

65 TRADESTATION SECURITIES INC FCM BD CME 2/28/2015 55,061,367 3,537,355 51,524,012 490,231,003 480,053,083 10,177,920 9,000,000 22,291,278 21,149,675 1,141,603 800,000 0 0 0 0 0

66 UBS FINANCIAL SERVICES INC FCM BD NFA 2/28/2015 1,177,833,195 100,785,576 1,077,047,619 177,121,518 128,518,485 48,603,033 22,000,000 32,871,778 3,300,430 29,571,348 15,000,000 0 0 0 0 0

67 UBS SECURITIES LLC FCM BD CBOT 2/27/2015 7,449,471,293 927,471,591 6,521,999,702 8,248,556,931 7,498,173,157 750,383,774 524,872,121 4,625,098,027 4,102,888,445 522,209,582 400,000,000 1,061,982,304 810,400,917 251,581,387 200,000,000 0

68 UOBBF CLEARING LIMITED FCM NFA 2/28/2015 8,506,747 1,000,000 7,506,747 0 0 0 0 0 0 0 0 0 0 0 0 0

69 VISION FINANCIAL MARKETS LLC FCM BD NFA 2/28/2015 30,258,815 1,000,000 29,258,815 1,000,035 0 1,000,035 1,000,000 0 0 0 0 0 0 0 0 0

70 WEDBUSH SECURITIES INC FCM BD CBOT 2/28/2015 121,865,975 21,839,203 100,026,772 576,150,443 552,951,405 23,199,038 17,750,000 22,045,147 18,161,032 3,884,115 1,000,000 0 0 0 0 46,784,065

71 WELLS FARGO SECURITIES LLC FCM BD CME 2/28/2015 2,599,185,945 387,087,739 2,212,098,206 1,622,194,620 1,407,805,530 214,389,090 100,000,000 358,392,697 215,378,124 143,014,573 40,000,000 3,493,253,522 2,934,116,955 559,136,567 300,000,000 0

72 WHOTRADES FX LLC FCM NFA 2/28/2015 1,996,064 1,000,000 996,064 0 0 0 0 0 0 0 0 0 0 0 0 0

73 XCHANGE FINANCIAL ACCESS LLC FCM BD NFA 2/28/2015 7,092,517 1,000,000 6,092,517 33,265,480 31,016,777 2,248,703 1,750,000 0 0 0 0 0 0 0 0 0

74 YORK BUSINESS ASSOCIATES LLC FCM NFA 2/28/2015 4,853,906 1,000,000 3,853,906 44,632,273 41,123,596 3,508,677 2,000,000 1,672,239 1,402,838 269,401 200,000 0 0 0 0 0

Totals 166,639,725,584 154,429,138,314 12,210,587,270 7,967,393,816 44,556,040,293 39,545,428,143 5,010,612,150 2,963,254,030 59,796,813,823 52,790,292,233 7,006,521,590 3,333,680,110 566,844,358

January Web Page Update 74

Additions 0
SELECTED FCM FINANCIAL DATA AS OF 

February 28, 2015

FROM REPORTS FILED BY 

March 24, 2015

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A B C D E F G H I J K L M N O P Q R S T U

Futures Commission Merchant / 

Retail Foreign Exchange Dealer

Registered 

As DSRO As ofDate Adjusted Net Capital Net Capital Requirement Excess Net Capital Customers' Assets in Seg

Customers' Seg 

Required 4d(a)(2)

Excess/Deficient 

Funds in Seg

Target Residual 

Interest in Seg

Funds in Separate 

Section 30.7 

Accounts

Customer Amount 

Pt. 30 Required

Excess/Deficient 

Funds in Separate 

Section 30.7 

Accounts

Target Residual 

Interest in Section 

30.7

Funds in Separate 

Cleared Swap 

Segregation

Customer Amount 

Cleared Swap Seg 

Required

Excess/Deficient 

Funds in Cleared 

Swap Seg Accounts

Target Residual 

Interest in Cleared 

Swap Seg

Total Amount of 

Retail Forex 

Obligation

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February Web Page Update 74

(m): This represents the total amount of money, securities, and property held in cleared swap customer accounts for cleared swap customers in compliance with Section 4d(f) of the Commodity Exchange Act.

(n): This represents the amount of funds an FCM is required to segregate for customers who trade cleared swaps.

(q): This represents the total amount of funds at an FCM, RFED, or FCMRFD that would be obtained by combining all money, securities and property deposited by a retail forex customer into a retail forex account or accounts, adjusted for the realized and unrealized net profit or loss.

(o): Excess/Deficient funds in cleared swap customer accounts is funds in separate cleared swap segregation accounts, less the cleared swap customer segregation requirement.

(p): This represents the targeted excess of proprietary funds deposited into separate cleared swap segregation accounts above the cleared swap customer segregation requirement. This target amount is set by the firm.

(k): Excess/Deficient funds in separate Section 30.7 accounts is funds in separate Section 30.7 accounts, less the customer amount Part 30 requirement.

(l): This represents the targeted excess of proprietary funds deposited into separate Section 30.7 accounts above the customer amount Part 30 requirement. This target amount is set by the firm.

(h): This represents the targeted excess of proprietary funds deposited into customer segregated accounts above the customer segregation requirement. This target amount is set by the firm.

(i): This represents the total amount of money, securities, and property held in secured accounts for futures and options customers who trade on commodity exchanges located outside the United States in compliance with Part 30 of the Commodity Exchange Act.

(j): This represents the amount of funds an FCM is required to set aside for customers who trade on commodity exchanges located outside of the United States. 

(f): This represents the total amount of funds that an FCM is required to segregate on behalf of customers who are trading on a designated contract market or derivatives transaction execution facility. This is the sum of all accounts that contain a net liquidating equity.

(g): Excess/Deficient funds in segregation is customer assets in segregation, less the customer segregation requirement.

•  minimum dollar amount for FCM’s offering or engaged in retail forex transactions and RFEDs ($20,000,000) plus five percent of the FCM’s or RFED’s total retail forex obligation in excess of $10,000,000.

(d): Excess net capital is adjusted net capital, less the firm's net capital requirement.

(e): This represents the total amount of money, securities, and property held in segregated accounts for futures and options customers in compliance with Section 4d of the Commodity Exchange Act.

•  FCM minimum dollar amount ($1,000,000); or

•  risk based capital requirement, the sum of 8% of total customer risk maintenance margin and 8% of total non-customer risk maintenance margin; or 

•  the amount of capital required by a registered futures association (currently NFA is the only such association); or

•  for securities brokers and dealers, the amount of net capital required by Rule 15c3-1(a) of the Securities and Exchange Commission; or  

•  minimum dollar amount for FCM’s offering or engaged in retail forex transactions and RFEDs ($20,000,000); or

(b): DSRO: Designated Self-Regulatory Organization. FCM/RFED firms that are dually registered as SDs have two DSROs listed if they have a different DSRO for the FCM/RFED and the SD. The DSRO for the FCM/RFED is listed first and the DSRO for the SD is listed second.

(c): A firm's net capital requirement is the greater of: 

 RFED: Retail Foreign Exchange Dealer that is registered with the Commodity Futures Trading Commission.

(a): FCM: Futures Commission Merchant that is registered with the Commodity Futures Trading Commission.

 BD: The FCM is also registered with the Securities and Exchange Commission as a securities broker or dealer.

 FCMRFD: The FCM is also registered with the Commodity Futures Trading Commission as a Retail Foreign Exchange Dealer.

 SD: The FCM or RFED is also registered with the Commodity Futures Trading Commission as a provisionally registered swap dealer.