SELECTED FCM FINANCIAL DATA AS OF 

February 29, 2012

FROM REPORTS FILED BY 

April 1, 2012

1 of 3

Reg As DSRO A/O Adjusted Net Capital Excess Customers' Customers' Excess/Deficient Funds in Separate Customer Excess/Deficient Total Amount

Date Net Capital Requirement Net Capital Assets Seg Required Funds in Seg Section 30.7 Amount Pt. 30 Funds in Separate of Retail Forex

in Seg 4d(a)(2) Accounts Required Section 30.7 Obligation

Accounts

(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k)

1 ABN AMRO CLEARING CHICAGO LLC FCM BD CBOT 2/29/2012 322,436,745 146,059,260 176,377,485 2,273,477,545 2,204,048,547 69,428,998 381,542,550 361,849,737 19,692,813 0

2 ADM INVESTOR SERVICES INC FCM CBOT 2/29/2012 260,304,846 149,607,332 110,697,514 3,344,947,816 2,826,982,440 517,965,376 179,890,707 152,349,207 27,541,500 107,982

3 ADVANCED MARKETS LLC FCMRFD NFA 2/29/2012 20,514,940 20,000,000 514,940 0 0 0 0 0 0 1,744,399

4 ADVANTAGE FUTURES LLC FCM CME 2/29/2012 21,737,705 12,022,412 9,715,293 439,317,500 426,619,020 12,698,480 43,351,517 41,404,417 1,947,100 0

5 ALPARI (US) LLC FCMRFD NFA 2/29/2012 26,494,182 20,007,536 6,486,646 335,968 214,002 121,966 0 0 0 10,150,727

6 AMERIPRISE FINANCIAL SERVICES INC FCM BD NFA 2/29/2012 65,724,198 1,000,000 64,724,198 0 0 0 0 0 0 0

7 AMP GLOBAL CLEARING LLC FCM NFA 2/29/2012 2,082,140 1,000,000 1,082,140 35,490,443 34,379,151 1,111,292 312,002 25,541 286,461 0

8 BARCLAYS CAPITAL INC FCM BD NYME 2/29/2012 6,090,435,839 1,001,991,592 5,088,444,247 6,800,737,576 6,578,879,323 221,858,253 3,744,741,135 3,558,300,691 186,440,444 0

9 BGC FINANCIAL LP FCM BD NFA 2/29/2012 48,190,419 1,142,008 47,048,411 0 0 0 0 0 0 0

10 BNP PARIBAS PRIME BROKERAGE INC FCM BD NYME 2/29/2012 2,170,802,694 295,523,681 1,875,279,013 1,463,334,234 1,280,219,488 183,114,746 702,799,712 612,116,770 90,682,942 0

11 BNP PARIBAS SECURITIES CORP FCM BD CBOT 2/29/2012 1,916,337,941 118,580,262 1,797,757,679 593,070,121 492,173,549 100,896,572 0 0 0 0

12 BNY MELLON CLEARING LLC FCM CME 2/29/2012 262,190,901 10,434,485 251,756,416 304,063,468 176,444,639 127,618,829 1,781,970 485,355 1,296,615 0

13 CANTOR FITZGERALD & CO FCM BD CBOT 2/29/2012 263,269,327 9,652,047 253,617,280 6,654,265 5,886,760 767,505 0 0 0 0

14 CAPITAL MARKET SERVICES LLC FCM NFA 2/29/2012 2,761,557 1,000,000 1,761,557 0 0 0 0 0 0 0

15 CIBC WORLD MARKETS CORP FCM BD CME 2/29/2012 511,042,767 1,500,000 509,542,767 0 0 0 0 0 0 0

16 CITADEL SECURITIES LLC FCM BD CME 2/29/2012 418,430,562 1,000,000 417,430,562 0 0 0 0 0 0 0

17 CITIGROUP GLOBAL MARKETS INC FCM BD CBOT 2/29/2012 7,943,191,448 775,725,485 7,167,465,963 9,415,908,636 8,990,517,475 425,391,161 1,842,149,249 1,471,375,510 370,773,739 0

18 COMMONWEALTH FOREIGN EXCHANGE INC FCM NFA 2/29/2012 1,568,638 1,000,000 568,638 0 0 0 0 0 0 0

19 COUNTRY HEDGING INC FCM NFA 2/29/2012 17,760,230 14,114,149 3,646,081 198,265,117 178,470,827 19,794,290 252,007 74,565 177,442 0

20 CREDIT SUISSE SECURITIES (USA) LLC FCM BD CBOT 2/29/2012 7,925,947,135 1,169,782,621 6,756,164,514 7,005,681,269 6,311,301,211 694,380,058 2,723,064,065 2,119,206,519 603,857,546 0

21 CROSSLAND LLC FCM CBOT 2/29/2012 10,268,063 4,828,951 5,439,112 100,749,273 94,903,816 5,845,457 25,922,846 23,623,692 2,299,154 0

22 CUNNINGHAM COMMODITIES LLC FCM CBOT 2/29/2012 2,953,995 1,224,104 1,729,891 54,471,557 53,239,385 1,232,172 1,068,805 1,017,518 51,287 0

23 CX CAPITAL MARKETS LLC FCM BD NFA 2/29/2012 3,430,170 1,000,000 2,430,170 28,454,278 26,631,515 1,822,763 0 0 0 0

24 DAIWA CAPITAL MARKETS AMERICA INC FCM BD CME 2/29/2012 308,542,073 1,748,146 306,793,927 11,900,620 7,293,158 4,607,462 1,067,577 0 1,067,577 0

25 DEUTSCHE BANK SECURITIES INC FCM BD CBOT 2/29/2012 8,721,604,572 719,543,925 8,002,060,647 15,615,865,618 15,146,562,168 469,303,450 1,877,933,656 1,719,056,474 158,877,182 0

26 DORMAN TRADING LLC FCM CME 2/29/2012 9,995,775 1,830,298 8,165,477 128,389,284 125,964,239 2,425,045 4,309,994 2,578,960 1,731,034 0

27 EAGLE MARKET MAKERS INC FCM CBOT 2/29/2012 7,264,424 1,000,000 6,264,424 1,186,767 391,777 794,990 0 0 0 0

28 EASY FOREX US LTD FCM NFA 2/29/2012 1,642,706 1,000,000 642,706 0 0 0 0 0 0 0

29 ENSKILDA FUTURES LTD FCM CME 2/29/2012 39,679,060 19,006,074 20,672,986 252,984,339 248,096,106 4,888,233 0 0 0 0

30 FCSTONE LLC FCM CME 2/29/2012 108,788,903 71,785,883 37,003,020 1,330,141,715 1,285,785,436 44,356,279 75,855,310 57,242,480 18,612,830 0

31 FOREX CAPITAL MARKETS LLC FCMRFD NFA 2/29/2012 70,970,146 27,043,705 43,926,441 0 0 0 0 0 0 150,874,105

32 FOREX CLUB LLC FCMRFD NFA 2/29/2012 22,280,354 22,000,000 280,354 0 0 0 0 0 0 2,929,012

33 FRIEDBERG MERCANTILE GROUP INC FCM NFA 2/29/2012 2,707,266 1,000,000 1,707,266 13,721,520 11,353,439 2,368,081 1,040,347 736,148 304,199 0

34 FRONTIER FUTURES INC FCM NFA 2/29/2012 1,908,474 1,000,000 908,474 28,518,795 27,898,456 620,339 0 0 0 0

35 FUTURES TECH LLC FCM NFA 2/29/2012 1,558,583 1,000,000 558,583 0 0 0 0 0 0 0

36 FX SOLUTIONS LLC FCMRFD NFA 2/29/2012 34,112,319 20,368,566 13,743,753 0 0 0 0 0 0 17,371,314

37 FXDIRECTDEALER LLC FCMRFD NFA 2/29/2012 27,752,368 21,378,862 6,373,506 0 0 0 0 0 0 37,577,236

38 GAIN CAPITAL GROUP LLC FCMRFD NFA 2/29/2012 49,702,410 24,722,737 24,979,673 0 0 0 0 0 0 104,454,746

39 GH FINANCIALS LLC FCM CME 2/29/2012 9,058,854 1,000,000 8,058,854 678,661 623,014 55,647 0 0 0 0

40 GLOBAL FUTURES & FOREX LTD FCMRFD NFA 2/29/2012 78,757,399 23,823,551 54,933,848 464,249 124,280 339,969 76,701 0 76,701 86,471,012

41 GOLDMAN SACHS & CO FCM BD CBOT 2/29/2012 11,369,767,453 1,964,043,052 9,405,724,401 21,863,805,877 21,327,303,029 536,502,848 9,890,996,987 9,434,527,698 456,469,289 0

42 GOLDMAN SACHS EXECUTION & CLEARING LP FCM BD CME 2/29/2012 2,043,449,436 119,136,482 1,924,312,954 1,475,451,378 882,888,017 592,563,361 104,916,643 59,647,644 45,268,999 0

43 GUGGENHEIM SECURITIES LLC FCM BD NFA 2/29/2012 56,079,222 2,722,584 53,356,638 0 0 0 0 0 0 0

44 HSBC SECURITIES USA INC FCM BD CME 2/29/2012 1,106,695,827 111,959,700 994,736,127 1,121,993,256 1,047,306,774 74,686,482 143,022,374 103,008,240 40,014,134 0

45 ICAP CORPORATES LLC FCM BD NFA 2/29/2012 49,882,520 1,345,606 48,536,914 0 0 0 0 0 0 0

46 IKON GLOBAL MARKETS INC FCM NFA 2/29/2012 15,384,070 1,000,000 14,384,070 1,551,483 764,146 787,337 118,624 108,434 10,190 0

47 INSTINET LLC FCM BD NFA 2/29/2012 123,202,001 1,132,783 122,069,218 0 0 0 0 0 0 0

48 INSTITUTIONAL LIQUIDITY LLC FCMRFD NFA 2/29/2012 22,057,972 20,041,968 2,016,004 0 0 0 0 0 0 10,839,362

49 INTEGRATED BROKERAGE SERVICES LLC FCM NFA 2/29/2012 977,249 1,000,000 -22,751 1,058 0 1,058 0 0 0 0

50 INTERACTIVE BROKERS LLC FCM BD NFA 2/29/2012 1,288,596,483 193,498,879 1,095,097,604 1,645,226,414 1,430,469,354 214,757,060 570,298,718 367,496,203 202,802,515 0

51 IRONBEAM INC FCM NFA 2/29/2012 2,787,667 1,000,000 1,787,667 44,988,661 43,502,513 1,486,148 244,345 114,910 129,435 0

52 ITG DERIVATIVES LLC FCM BD NFA 2/29/2012 3,254,399 1,000,000 2,254,399 0 0 0 0 0 0 0

53 JEFFERIES & COMPANY INC FCM BD NFA 2/29/2012 961,359,765 45,793,113 915,566,652 0 0 0 0 0 0 0

54 JEFFERIES BACHE LLC FCM CBOT 2/29/2012 230,276,000 156,037,760 74,238,240 2,473,523,000 2,302,461,000 171,062,000 497,256,000 414,362,000 82,894,000 0

55 JP MORGAN CLEARING CORP FCM BD NFA 2/29/2012 7,451,568,193 2,131,009,328 5,320,558,865 935,199,892 688,250,185 246,949,707 518,349,004 313,896,848 204,452,156 0

56 JP MORGAN SECURITIES LLC FCM BD CEI 2/29/2012 11,156,844,667 1,567,241,238 9,589,603,429 19,349,491,873 17,339,882,795 2,009,609,078 3,975,202,890 3,585,056,992 390,145,898 0

57 LEK SECURITIES CORPORATION FCM BD NFA 2/29/2012 11,030,018 1,500,000 9,530,018 6,262,534 5,527,912 734,622 0 0 0 0

58 LINN GROUP THE FCM NFA 2/29/2012 3,065,057 1,734,825 1,330,232 64,418,022 61,105,048 3,312,974 313,417 207,687 105,730 0

59 LPL FINANCIAL LLC FCM BD NFA 2/29/2012 122,328,907 6,100,569 116,228,338 0 0 0 0 0 0 0

60 MACQUARIE FUTURES USA LLC FCM CBOT 2/29/2012 133,187,430 57,105,939 76,081,491 873,630,812 779,163,413 94,467,399 129,162,661 79,796,022 49,366,639 0

Futures Commission Merchant / Retail Foreign Exchange 

Dealer
SELECTED FCM FINANCIAL DATA AS OF 

February 29, 2012

FROM REPORTS FILED BY 

April 1, 2012

2 of 3

61 MAREX NORTH AMERICA LLC FCM CME 2/29/2012 15,325,048 7,670,439 7,654,609 118,996,181 111,256,058 7,740,123 6,593,189 5,843,331 749,858 0

62 MAREX USA LIMITED FCM NFA 2/29/2012 2,629,658 1,000,000 1,629,658 0 0 0 0 0 0 0

63 MB TRADING FUTURES INC FCMRFD NFA 2/29/2012 3,531,864 21,154,506 -17,622,642 0 0 0 0 0 0 33,090,112

64 MBF CLEARING CORP FCM NFA 2/29/2012 2,241,136 1,000,000 1,241,136 1,755 0 1,755 0 0 0 0

65 MCVEAN TRADING & INVESTMENTS LLC FCM NFA 2/29/2012 14,137,638 3,802,698 10,334,940 904,892,759 884,059,128 20,833,631 391,789 0 391,789 0

66 MERRILL LYNCH PIERCE FENNER & SMITH FCM BD CBOT 2/29/2012 11,029,181,118 779,779,529 10,249,401,589 8,575,981,873 8,104,996,766 470,985,107 2,508,430,713 2,308,046,020 200,384,693 0

67 MERRILL LYNCH PROFESSIONAL CLEARING CORP FCM BD NFA 2/29/2012 2,060,613,567 191,725,041 1,868,888,526 1,521,239,828 839,670,067 681,569,761 147,326,234 46,766,499 100,559,735 0

68 MID CO COMMODITIES INC FCM NFA 2/29/2012 7,860,966 5,707,243 2,153,723 42,539,324 34,808,468 7,730,856 1,567,803 1,163,577 404,226 0

69 MITSUBISHI UFJ SECURITIES USA INC FCM BD NFA 2/29/2012 226,943,825 1,632,136 225,311,689 0 0 0 0 0 0 0

70 MITSUI BUSSAN COMMODITIES USA INC FCM NFA 2/29/2012 2,902,366 1,000,000 1,902,366 0 0 0 0 0 0 0

71 MIZUHO SECURITIES USA INC FCM BD CME 2/29/2012 407,177,276 144,250,413 262,926,863 1,272,839,430 1,147,874,805 124,964,625 860,962,236 762,684,330 98,277,906 0

72 MORGAN KEEGAN & COMPANY INC FCM BD NFA 2/29/2012 554,930,478 8,456,699 546,473,779 0 0 0 0 0 0 0

73 MORGAN STANLEY & CO LLC FCM BD CME 2/29/2012 8,111,719,495 1,134,185,178 6,977,534,317 5,483,128,011 5,380,227,036 102,900,975 1,794,798,624 1,695,263,466 99,535,158 0

74 MORGAN STANLEY SMITH BARNEY LLC FCM BD NFA 2/29/2012 1,117,957,020 41,300,604 1,076,656,416 507,340,710 466,531,395 40,809,315 1,721,075,954 1,695,076,346 25,999,608 0

75 NATIXIS SECURITIES AMERICAS LLC FCM BD NFA 2/29/2012 347,692,387 1,500,000 346,192,387 0 0 0 0 0 0 0

76 NEUBERGER BERMAN LLC FCM BD NFA 2/29/2012 36,373,242 1,500,000 34,873,242 0 0 0 0 0 0 0

77 NEWEDGE USA LLC FCM BD NYME 2/29/2012 2,236,155,946 1,362,476,892 873,679,054 18,872,957,313 18,039,617,393 833,339,920 7,150,692,033 6,358,697,816 791,994,217 0

78 NOMURA SECURITIES INTERNATIONAL INC FCM BD CBOT 2/29/2012 2,394,964,392 24,277,268 2,370,687,124 78,249,594 59,016,495 19,233,099 18,330,455 3,164,213 15,166,242 0

79 OANDA CORPORATION FCMRFD NFA 2/29/2012 140,526,582 27,827,564 112,699,018 0 0 0 0 0 0 166,551,287

80 OPEN E CRY LLC FCM NFA 2/29/2012 2,780,544 1,220,620 1,559,924 99,217,126 95,411,729 3,805,397 3,015,521 2,719,065 296,456 0

81 OPPENHEIMER & CO INC FCM BD NFA 2/29/2012 162,203,888 24,566,294 137,637,594 29,355,949 18,612,373 10,743,576 0 0 0 0

82 OPTIONSXPRESS INC FCM BD NFA 2/29/2012 75,309,558 5,942,023 69,367,535 101,442,367 88,257,471 13,184,896 5,422,145 4,674,079 748,066 0

83 PENSON FINANCIAL SERVICES INC FCM BD CBOT 2/29/2012 103,472,532 26,858,626 76,613,906 609,616,411 602,265,648 7,350,763 26,949,884 25,383,536 1,566,348 32,122,024

84 PEREGRINE FINANCIAL GROUP INC FCM NFA 2/29/2012 31,267,263 21,054,220 10,213,043 398,584,148 392,258,929 6,325,219 29,772,852 27,801,853 1,970,999 31,084,408

85 PHILLIP FUTURES INC FCM CME 2/29/2012 9,580,225 2,207,036 7,373,189 59,210,405 49,807,567 9,402,838 0 0 0 0

86 PIONEER FUTURES INC FCM NFA 2/29/2012 2,045,281 1,000,000 1,045,281 0 0 0 0 0 0 0

87 RAND FINANCIAL SERVICES INC FCM CME 2/29/2012 74,303,636 15,735,105 58,568,531 218,481,100 178,533,300 39,947,800 54,557,900 34,058,300 20,499,600 0

88 RAYMOND JAMES & ASSOCIATES INC FCM BD NFA 2/29/2012 365,044,667 30,245,154 334,799,513 0 0 0 0 0 0 0

89 RBC CAPITAL MARKETS LLC FCM BD CME 2/29/2012 1,449,255,671 80,236,290 1,369,019,381 547,051,397 497,961,600 49,089,797 78,179,189 53,240,950 24,938,239 0

90 RBS SECURITIES INC FCM BD CBOT 2/29/2012 3,555,546,818 280,528,491 3,275,018,327 2,272,792,483 2,141,584,229 131,208,254 219,362,616 104,116,146 115,246,470 0

91 RJ OBRIEN ASSOCIATES LLC FCM CME 2/29/2012 198,224,186 141,916,857 56,307,329 3,657,188,500 3,556,731,027 100,457,473 216,251,392 171,490,244 44,761,148 2,347,468

92 ROSENTHAL COLLINS GROUP LLC FCM CME 2/29/2012 95,759,597 67,479,991 28,279,606 1,679,922,519 1,659,385,752 20,536,767 92,245,820 82,241,027 10,004,793 0

93 ROSENTHAL GLOBAL SECURITIES LLC FCM BD NFA 2/29/2012 34,500,947 1,000,000 33,500,947 0 0 0 0 0 0 0

94 SANFORD C BERNSTEIN & CO LLC FCM BD NFA 2/29/2012 124,920,291 15,540,720 109,379,571 0 0 0 0 0 0 0

95 SANTANDER INVESTMENT SECURITIES INC FCM BD NYME 2/29/2012 200,271,304 10,827,913 189,443,391 512,423,910 510,130,334 2,293,576 0 0 0 0

96 STATE STREET GLOBAL MARKETS LLC FCM BD CME 2/29/2012 442,573,808 7,959,427 434,614,381 236,486,428 76,513,760 159,972,668 40,887,920 3,778,291 37,109,629 0

97 STEPHENS INC FCM BD NFA 2/29/2012 92,566,336 12,388,645 80,177,691 0 0 0 0 0 0 0

98 STERLING COMMODITIES CORP FCM NFA 2/29/2012 1,860,908 1,000,000 860,908 0 0 0 0 0 0 0

99 STRAITS FINANCIAL LLC FCM CME 2/29/2012 7,696,573 1,881,758 5,814,815 49,817,246 46,493,373 3,323,873 5,021,435 3,463,379 1,558,056 0

100 TD AMERITRADE INC FCM BD NFA 2/29/2012 318,590,768 5,577,791 313,012,977 96,800,163 67,803,672 28,996,491 0 0 0 0

101 TENCO INC FCM CBOT 2/29/2012 63,238,708 6,622,320 56,616,388 240,467,302 224,292,810 16,174,492 189,981 62,702 127,279 0

102 TIMBER HILL LLC FCM BD CME 2/29/2012 843,408,425 47,254,044 796,154,381 648,279,246 645,754,101 2,525,145 0 0 0 0

103 TRADELINK LLC FCM BD CBOT 2/29/2012 15,401,216 1,000,000 14,401,216 0 0 0 0 0 0 0

104 TRADESTATION FOREX INC RFED NFA 2/29/2012 24,223,703 22,968,535 1,255,168 0 0 0 0 0 0 69,370,707

105 TRADESTATION SECURITIES INC FCM BD NFA 2/29/2012 48,604,078 3,418,658 45,185,420 440,553,574 431,004,574 9,549,000 11,174,137 10,159,513 1,014,624 0

106 TRADITION SECURITIES AND FUTURES INC FCM NFA 2/29/2012 1,515,984 1,000,000 515,984 0 0 0 0 0 0 0

107 UBS FINANCIAL SERVICES INC FCM BD NFA 2/29/2012 1,136,809,222 116,906,825 1,019,902,397 225,483,561 196,992,393 28,491,168 23,227,903 3,593,675 19,634,228 0

108 UBS SECURITIES LLC FCM BD CBOT 2/29/2012 11,964,677,986 964,139,325 11,000,538,661 9,935,579,212 9,179,341,366 756,237,846 5,225,984,010 4,834,016,357 391,967,653 0

109 VELOCITY FUTURES LLC FCM NFA 2/29/2012 1,142,290 1,000,000 142,290 73,194,157 72,668,829 525,328 15,834,836 14,550,102 1,284,734 0

110 VISION FINANCIAL MARKETS LLC FCM BD CME 2/29/2012 27,514,634 10,027,374 17,487,260 432,633,238 420,427,300 12,205,938 10,713,909 7,374,761 3,339,148 0

111 WELLS FARGO ADVISORS FINANCIAL NETWORK LLC FCM BD NFA 2/29/2012 37,830,030 1,000,000 36,830,030 0 0 0 0 0 0 0

112 WELLS FARGO ADVISORS LLC FCM BD NFA 2/29/2012 1,512,099,880 1,500,000 1,510,599,880 0 0 0 0 0 0 0

113 WELLS FARGO SECURITIES LLC FCM BD CME 2/29/2012 1,729,886,336 8,620,674 1,721,265,662 0 0 0 0 0 0 0

114 WHITE COMMERCIAL CORPORATION FCM NFA 2/29/2012 2,263,626 1,000,000 1,263,626 0 0 0 0 0 0 0

115 XPRESSTRADE LLC RFED NFA 2/29/2012 23,016,858 20,000,000 3,016,858 0 0 0 0 0 0 1,411,493

116 YORK BUSINESS ASSOCIATES LLC FCM NFA 2/29/2012 1,849,770 1,000,000 849,770 76,614,656 73,930,694 2,683,962 1,997,780 1,558,319 439,461 0

Totals 159,323,716,770 148,737,847,849 10,585,868,921 47,708,000,073 42,740,654,159 4,967,345,914 758,497,394

January Web Page Update 116

Additions 0

Deletions 0
SELECTED FCM FINANCIAL DATA AS OF 

February 29, 2012

FROM REPORTS FILED BY 

April 1, 2012

3 of 3

Name Change

None

February Web Page Update 116

(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.

(k): 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.

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

(h): 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.

(i): 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. 

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

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

(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;

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

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