SELECTED FCM FINANCIAL DATA AS OF 

May 31, 2015

FROM REPORTS FILED BY 

June 30, 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 5/31/2015 618,009,522 163,121,489 454,888,033 2,942,196,444 2,622,444,089 319,752,355 135,909,691 191,742,280 143,217,148 48,525,132 21,482,572 0 0 0 0 0

2 ADM INVESTOR SERVICES INC FCM CBOT 5/31/2015 297,921,295 164,891,821 133,029,474 4,010,517,954 3,760,474,203 250,043,751 120,000,000 241,042,241 183,457,031 57,585,210 20,000,000 11,667,764 1,501,064 10,166,700 8,000,000 0

3 ADVANTAGE FUTURES LLC FCM CME 5/31/2015 23,811,759 15,499,601 8,312,158 597,403,363 583,845,081 13,558,282 9,000,000 31,378,710 29,541,157 1,837,553 1,000,000 0 0 0 0 0

4 AMP GLOBAL CLEARING LLC FCM NFA 5/29/2015 2,644,377 1,500,000 1,144,377 58,827,565 57,267,822 1,559,743 900,000 1,483,166 1,067,047 416,119 150,000 0 0 0 0 0

5 BARCLAYS CAPITAL INC FCM BD NYME 5/31/2015 6,439,620,001 1,301,271,010 5,138,348,991 6,722,391,808 6,008,416,137 713,975,671 330,462,888 3,177,094,011 2,942,971,186 234,122,825 147,737,153 5,997,657,270 5,110,400,456 887,256,814 183,463,376 0

6 BGC FINANCIAL LP FCM BD NFA 5/31/2015 53,261,839 1,036,564 52,225,275 0 0 0 0 0 0 0 0 0 0 0 0 0

7 BNP PARIBAS PRIME BROKERAGE INC FCM BD NYME 5/31/2015 3,199,035,787 258,994,371 2,940,041,416 2,274,709,023 1,983,129,392 291,579,631 198,312,939 37,519,750 24,502,579 13,017,171 10,000,000 11,482,850 3,377,348 8,105,502 5,000,000 0

8 BNP PARIBAS SECURITIES CORP FCM BD CBOT 5/31/2015 1,640,325,249 251,334,615 1,388,990,634 1,139,478,391 924,022,559 215,455,832 184,804,512 44,610,586 28,952,297 15,658,289 2,895,230 713,755,806 602,066,832 111,688,974 60,206,683 0

9 BOCI COMMODITIES & FUTURES USA LLC FCM CME 5/31/2015 12,097,041 1,000,000 11,097,041 203 0 203 1 184 0 184 1 6 0 6 1 0

10 CANTOR FITZGERALD & CO FCM BD CBOT 5/31/2015 204,040,635 4,069,529 199,971,106 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 5/31/2015 28,265,269 9,309,846 18,955,423 153,017,561 124,352,764 28,664,797 13,100,000 1,623,884 204,703 1,419,181 545,000 667,440 163,350 504,090 310,000 0

12 CITIGROUP GLOBAL MARKETS INC FCM BD SD CBOT/NFA 5/31/2015 7,212,182,394 1,422,770,763 5,789,411,631 7,060,255,901 6,721,782,604 338,473,297 308,400,000 1,248,104,962 1,045,183,900 202,921,062 150,000,000 6,835,196,444 6,612,404,451 222,791,993 208,475,000 0

13 CREDIT SUISSE SECURITIES (USA) LLC FCM BD CBOT 5/31/2015 7,737,717,241 2,298,123,094 5,439,594,147 9,130,367,027 8,629,703,614 500,663,413 431,485,181 3,842,137,176 3,086,191,728 755,945,448 154,309,586 14,175,712,512 12,236,550,664 1,939,161,848 611,827,533 0

14 CUNNINGHAM COMMODITIES LLC FCM CBOT 5/31/2015 5,304,920 1,347,733 3,957,187 69,852,623 65,749,296 4,103,327 3,050,000 330,445 46,617 283,828 100,000 0 0 0 0 0

15 DAIWA CAPITAL MARKETS AMERICA INC FCM BD CME 5/31/2015 498,946,132 8,757,556 490,188,576 5,450,615 0 5,450,615 1 539,629 0 539,629 1 0 0 0 0 0

16 DEUTSCHE BANK SECURITIES INC FCM BD CBOT 5/31/2015 12,083,516,986 639,569,576 11,443,947,410 3,470,112,063 3,185,159,476 284,952,587 200,000,000 1,139,465,741 942,832,123 196,633,618 150,000,000 2,196,815,711 1,889,465,893 307,349,818 250,000,000 0

17 DORMAN TRADING LLC FCM CME 5/31/2015 9,912,919 2,606,602 7,306,317 174,991,897 171,305,853 3,686,044 2,000,000 3,771,996 3,170,153 601,843 200,000 0 0 0 0 0

18 E D & F MAN CAPITAL MARKETS INC FCM BD CME 5/31/2015 69,779,209 23,561,588 46,217,621 661,567,341 632,291,699 29,275,642 14,000,000 50,927,917 47,344,915 3,583,002 2,000,000 0 0 0 0 0

19 E TRADE CLEARING LLC FCM BD NFA 5/29/2015 823,842,532 177,930,122 645,912,410 58,692,524 44,377,734 14,314,790 10,000,000 1,506,207 497,091 1,009,116 1,000,000 0 0 0 0 0

20 EFL FUTURES LIMITED FCM CME 5/31/2015 35,261,335 12,423,796 22,837,539 175,737,205 162,777,065 12,960,140 5,000,000 0 0 0 0 0 0 0 0 0

21 FCSTONE LLC FCM CME 5/31/2015 124,159,235 65,742,030 58,417,205 1,783,172,057 1,734,607,356 48,564,701 24,000,000 76,039,259 57,322,897 18,716,362 8,000,000 0 0 0 0 0

22 FOREX CAPITAL MARKETS LLC FCMRFD SD NFA 5/31/2015 64,768,296 28,139,665 36,628,631 0 0 0 0 0 0 0 0 0 0 0 0 172,793,299

23 GAIN CAPITAL GROUP LLC FCMRFD NFA 5/31/2015 37,888,778 25,191,791 12,696,987 250,440,207 234,361,110 16,079,097 2,500,000 8,558,003 5,663,514 2,894,489 312,500 0 0 0 0 113,835,817

24 GH FINANCIALS LLC FCM CME 5/31/2015 15,641,878 3,982,976 11,658,902 68,096,360 57,740,261 10,356,099 2,500,000 300,299 1,290 299,009 75,000 0 0 0 0 0

25 GOLDMAN SACHS & CO FCM BD SD CBOT/NFA 5/31/2015 15,979,863,610 2,528,258,064 13,451,605,546 23,236,675,465 22,693,878,601 542,796,864 475,000,000 12,160,778,829 11,623,214,331 537,564,498 475,000,000 4,639,376,463 4,217,977,906 421,398,557 350,000,000 0

26 GOLDMAN SACHS EXECUTION & CLEARING LP FCM BD CME 5/31/2015 1,617,110,074 173,949,786 1,443,160,288 1,160,080,855 581,479,209 578,601,646 540,000,000 71,046,668 20,667,426 50,379,242 40,000,000 0 0 0 0 0

27 HSBC SECURITIES USA INC FCM BD CME 5/31/2015 987,054,664 227,847,074 759,207,590 1,068,915,888 960,134,532 108,781,356 50,000,000 117,177,625 91,233,276 25,944,349 10,000,000 773,526,919 642,576,845 130,950,074 70,000,000 0

28 IBFX INC RFED SD NFA 5/31/2015 36,474,360 22,049,503 14,424,857 0 0 0 0 0 0 0 0 0 0 0 0 47,682,176

29 INTERACTIVE BROKERS LLC FCM BD NFA 5/31/2015 2,316,566,371 305,853,772 2,010,712,599 2,812,987,309 2,605,060,586 207,926,723 155,000,000 753,340,356 555,956,077 197,384,279 80,000,000 0 0 0 0 56,987,489

30 IRONBEAM INC FCM NFA 5/31/2015 2,196,895 1,000,000 1,196,895 41,408,987 40,070,392 1,338,595 800,000 258,066 157,262 100,804 50,000 0 0 0 0 0

31 ITG DERIVATIVES LLC FCM BD NFA 5/31/2015 1,998,663 1,000,000 998,663 0 0 0 0 0 0 0 0 0 0 0 0 0

32 JEFFERIES LLC FCM BD CBOT 5/31/2015 998,319,617 84,694,920 913,624,697 1,193,037,906 1,079,706,053 113,331,853 90,000,000 162,651,022 91,338,100 71,312,922 50,000,000 17,325,556 5,492,373 11,833,183 5,000,000 0

33 JP MORGAN CLEARING CORP FCM BD NFA 5/31/2015 8,065,616,836 1,763,620,897 6,301,995,939 880,456,296 612,121,624 268,334,672 55,090,946 737,837,347 551,737,699 186,099,648 49,656,393 250,000 0 250,000 1 0

34 JP MORGAN SECURITIES LLC FCM BD SD CEI/NFA 5/31/2015 15,802,328,999 2,469,924,108 13,332,404,891 18,989,864,022 17,243,757,962 1,746,106,060 1,551,938,217 3,762,224,516 3,204,132,092 558,092,424 288,371,888 7,220,004,343 6,552,241,935 667,762,408 589,701,774 0

35 MACQUARIE FUTURES USA LLC FCM CBOT 5/31/2015 185,718,356 164,090,452 21,627,904 1,941,182,455 1,779,285,195 161,897,260 90,000,000 32,502,762 16,522,820 15,979,942 1,156,449 23,563,064 5,239,314 18,323,750 366,752 0

36 MAREX NORTH AMERICA LLC FCM CME 5/31/2015 18,754,080 11,790,694 6,963,386 154,401,763 150,279,258 4,122,505 3,500,000 36,475,447 35,255,889 1,219,558 1,000,000 0 0 0 0 0

37 MB TRADING FUTURES INC RFED NFA 5/31/2015 24,343,539 20,415,475 3,928,064 0 0 0 0 0 0 0 0 0 0 0 0 18,309,509

38 MCVEAN TRADING & INVESTMENTS LLC FCM NFA 5/31/2015 13,739,053 3,278,221 10,460,832 962,563,093 942,251,038 20,312,055 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 5/31/2015 9,919,108,462 1,457,135,111 8,461,973,351 11,948,746,041 11,636,405,745 312,340,296 200,000,000 3,248,418,806 3,003,666,356 244,752,450 150,000,000 4,127,812,599 3,851,081,673 276,730,926 150,000,000 0

40 MERRILL LYNCH PROFESSIONAL CLEARING CORP FCM BD NFA 5/31/2015 2,478,291,578 470,347,787 2,007,943,791 1,544,321,959 840,962,383 703,359,576 300,000,000 3,931,185 222,534 3,708,651 1,000,000 0 0 0 0 0

41 MID CO COMMODITIES INC FCM NFA 5/31/2015 8,001,177 2,246,953 5,754,224 30,093,387 21,919,841 8,173,546 5,000,000 0 0 0 0 0 0 0 0 0

42 MINT BROKERS FCM BD NFA 5/31/2015 6,837,556 1,000,000 5,837,556 0 0 0 0 0 0 0 0 0 0 0 0 0

43 MITSUBISHI UFJ SECURITIES USA INC FCM BD NFA 5/31/2015 319,240,291 1,000,000 318,240,291 0 0 0 0 0 0 0 0 0 0 0 0 0

44 MIZUHO SECURITIES USA INC FCM BD SD CME/NFA 5/31/2015 583,412,909 230,048,674 353,364,235 2,530,441,975 2,329,513,057 200,928,918 135,000,000 690,899,944 590,703,613 100,196,331 70,000,000 26,868,354 1,710,714 25,157,640 15,000,000 0

45 MORGAN STANLEY & CO LLC FCM BD SD CME/NFA 5/31/2015 8,699,431,557 1,875,980,371 6,823,451,186 12,376,358,501 12,175,680,848 200,677,653 105,000,000 3,644,090,661 3,427,466,187 216,624,474 105,000,000 7,983,758,179 7,855,202,128 128,556,051 92,000,000 0

46 NANHUA USA LLC FCM CME 5/31/2015 10,417,878 1,000,000 9,417,878 15,323,205 10,304,887 5,018,318 1,000,000 0 0 0 0 0 0 0 0 0

47 NEUBERGER BERMAN LLC FCM BD NFA 5/31/2015 13,402,827 1,500,000 11,902,827 0 0 0 0 0 0 0 0 0 0 0 0 0

48 NOMURA SECURITIES INTERNATIONAL INC FCM BD CBOT 5/31/2015 2,228,106,706 88,553,341 2,139,553,365 208,079,739 137,298,833 70,780,906 15,000,000 16,486,500 169,360 16,317,140 1,000,000 45,516,369 22,326,067 23,190,302 20,000,000 0

49 OANDA CORPORATION FCMRFD NFA 5/31/2015 81,135,070 25,154,482 55,980,588 0 0 0 0 0 0 0 0 0 0 0 0 113,089,638

50 OPTIONSXPRESS INC FCM BD NFA 5/31/2015 132,068,252 6,941,725 125,126,527 113,555,352 76,790,776 36,764,576 7,679,078 3,540,595 920,307 2,620,288 92,031 0 0 0 0 0

51 PHILLIP CAPITAL INC FCM CME 5/31/2015 36,250,805 20,000,000 16,250,805 233,678,102 213,068,781 20,609,321 10,653,439 6,280,045 2,331,984 3,948,061 116,599 0 0 0 0 0

52 PICTET OVERSEAS INC FCM BD NFA 5/31/2015 17,056,523 1,000,000 16,056,523 0 0 0 0 0 0 0 0 0 0 0 0 0

53 RAND FINANCIAL SERVICES INC FCM CME 5/31/2015 81,497,732 17,004,792 64,492,940 278,053,800 235,558,600 42,495,200 7,066,800 36,312,600 13,785,900 22,526,700 413,600 0 0 0 0 0

54 RBC CAPITAL MARKETS LLC FCM BD CME 5/31/2015 1,201,455,505 139,335,225 1,062,120,280 2,010,697,792 1,818,491,340 192,206,452 120,000,000 157,142,661 117,689,192 39,453,469 20,000,000 311,839,831 116,544,282 195,295,549 40,000,000 0

55 RBS SECURITIES INC FCM BD CBOT 5/31/2015 4,608,392,423 119,317,223 4,489,075,200 1,771,071,810 1,592,943,743 178,128,067 125,000,000 189,664,893 64,963,540 124,701,353 100,000,000 0 0 0 0 0

56 RJ OBRIEN ASSOCIATES LLC FCM SD CME/NFA 5/31/2015 197,546,495 144,977,891 52,568,604 4,000,870,249 3,911,892,606 88,977,643 40,000,000 234,725,449 210,042,711 24,682,738 20,000,000 0 0 0 0 954,180

57 ROSENTHAL COLLINS GROUP LLC FCM CME 5/31/2015 76,472,185 56,713,204 19,758,981 1,458,895,659 1,432,404,784 26,490,875 18,000,000 31,146,421 20,153,676 10,992,745 8,000,000 0 0 0 0 0

58 SANFORD C BERNSTEIN & CO LLC FCM BD NFA 5/31/2015 181,023,590 26,145,779 154,877,811 0 0 0 0 0 0 0 0 0 0 0 0 0

59 SANTANDER INVESTMENT SECURITIES INC FCM BD NYME 5/31/2015 123,034,257 10,456,017 112,578,240 488,825,604 484,369,833 4,455,771 4,000,000 0 0 0 0 0 0 0 0 0

60 SCOTIA CAPITAL USA INC FCM BD CME 5/31/2015 577,609,315 34,628,641 542,980,674 0 0 0 0 0 0 0 0 0 0 0 0 0

61 SG AMERICAS SECURITIES LLC FCM BD SD CME/NFA 5/31/2015 3,427,392,769 1,094,742,168 2,332,650,601 14,063,466,959 13,294,988,963 768,477,996 500,000,000 3,542,703,434 3,191,734,785 350,968,649 255,000,000 250,305,856 74,640,877 175,664,979 75,000,000 0

62 STATE STREET GLOBAL MARKETS LLC FCM BD CME 5/31/2015 387,282,235 27,768,843 359,513,392 457,872,922 338,369,373 119,503,549 16,918,469 91,038,911 43,266,237 47,772,674 15,000,000 0 0 0 0 0

63 STRAITS FINANCIAL LLC FCM CME 5/31/2015 24,126,115 11,249,513 12,876,602 503,366,455 487,882,509 15,483,946 2,000,000 62,517,581 56,155,968 6,361,613 300,000 0 0 0 0 0

64 TD AMERITRADE FUTURES & FOREX LLC FCM NFA 5/31/2015 54,298,995 11,663,494 42,635,501 202,624,304 145,244,036 57,380,268 18,000,000 0 0 0 0 0 0 0 0 0

65 TIMBER HILL LLC FCM BD CME 5/31/2015 355,743,509 61,822,702 293,920,807 850,001,906 844,958,854 5,043,052 5,000,000 0 0 0 0 0 0 0 0 0

66 TRADESTATION SECURITIES INC FCM BD CME 5/31/2015 62,476,884 4,357,282 58,119,602 528,711,896 518,186,892 10,525,004 9,000,000 23,909,716 22,663,261 1,246,455 800,000 0 0 0 0 0

67 UBS FINANCIAL SERVICES INC FCM BD NFA 5/31/2015 1,034,076,861 103,033,724 931,043,137 144,149,816 96,984,327 47,165,489 22,000,000 33,751,718 3,217,236 30,534,482 15,000,000 0 0 0 0 0

68 UBS SECURITIES LLC FCM BD CBOT 5/31/2015 6,837,877,186 995,583,909 5,842,293,277 9,302,408,386 8,563,799,739 738,608,647 599,465,982 4,216,884,307 3,721,815,388 495,068,919 400,000,000 1,390,927,400 1,104,600,942 286,326,458 200,000,000 0

69 UOBBF CLEARING LIMITED FCM NFA 5/31/2015 8,391,286 1,000,000 7,391,286 0 0 0 0 0 0 0 0 0 0 0 0 0

70 WEDBUSH SECURITIES INC FCM BD CBOT 5/31/2015 126,112,741 31,041,943 95,070,798 791,995,438 766,697,303 25,298,135 17,750,000 29,159,146 24,021,579 5,137,567 1,000,000 0 0 0 0 45,141,839

71 WELLS FARGO SECURITIES LLC FCM BD CME 5/31/2015 2,352,640,701 480,978,448 1,871,662,253 2,234,353,437 1,963,067,297 271,286,140 125,000,000 211,629,587 135,315,286 76,314,301 30,000,000 3,705,382,924 3,240,023,409 465,359,515 300,000,000 0

72 WHOTRADES FX LLC FCM NFA 5/31/2015 1,745,754 1,000,000 745,754 0 0 0 0 0 0 0 0 0 0 0 0 0

73 XCHANGE FINANCIAL ACCESS LLC FCM BD NFA 5/31/2015 7,029,734 1,650,625 5,379,109 44,532,414 42,168,125 2,364,289 1,750,000 0 0 0 0 0 0 0 0 0

74 YORK BUSINESS ASSOCIATES LLC FCM NFA 5/31/2015 4,937,692 1,000,000 3,937,692 43,200,438 39,352,103 3,848,335 2,000,000 2,579,931 2,279,309 300,622 200,000 0 0 0 0 0

Totals 161,429,519,638 150,411,138,143 11,018,381,495 7,440,038,144 44,411,701,036 39,384,966,757 5,026,734,279 2,858,364,003 60,459,413,660 54,145,588,523 6,313,825,137 3,234,351,120 568,793,947

April Web Page Update 75

Additions 0
SELECTED FCM FINANCIAL DATA AS OF 

May 31, 2015

FROM REPORTS FILED BY 

June 30, 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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Deletions 1

TD AMERITRADE INC

Name Changes

NONE

May 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.