SELECTED FCM FINANCIAL DATA AS OF 

September 30, 2013

FROM REPORTS FILED BY 

November 4, 2013

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A B C D E F G H I J K L M N O

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 9/30/2013 474,254,371 119,383,756 354,870,615 2,453,290,599 2,215,109,300 238,181,299 136,792,668 100,303,442 36,489,226 0

2 ADM INVESTOR SERVICES INC FCM CBOT 9/30/2013 274,214,706 161,983,809 112,230,897 3,130,428,924 2,904,912,537 225,516,387 223,959,847 157,033,076 66,926,771 0

3 ADVANTAGE FUTURES LLC FCM CME 9/30/2013 21,707,480 11,983,302 9,724,178 490,219,339 476,337,543 13,881,796 35,212,711 32,755,606 2,457,105 0

4 ALPARI (US) LLC FCMRFD NFA 9/30/2013 20,598,941 20,000,000 598,941 3,366,786 906,768 2,460,018 3,222,849 1,383,954 1,838,895 764,141

5 AMERIPRISE FINANCIAL SERVICES INC FCM BD NFA 9/30/2013 94,914,432 1,000,000 93,914,432 0 0 0 0 0 0 0

6 AMP GLOBAL CLEARING LLC FCM NFA 9/30/2013 2,455,937 1,500,000 955,937 43,950,581 42,649,124 1,301,457 610,881 433,904 176,977 0

7 BARCLAYS CAPITAL INC FCM BD NYME 9/30/2013 6,377,014,854 1,325,297,956 5,051,716,898 6,433,689,354 6,195,369,101 238,320,253 4,077,109,356 3,838,190,653 238,918,703 0

8 BGC FINANCIAL LP FCM BD NFA 9/30/2013 50,769,696 3,066,649 47,703,047 0 0 0 0 0 0 0

9 BNP PARIBAS PRIME BROKERAGE INC FCM BD NYME 9/30/2013 3,449,699,726 228,574,927 3,221,124,799 2,570,099,873 2,314,675,427 255,424,446 18,344,434 1,537,676 16,806,758 0

10 BNP PARIBAS SECURITIES CORP FCM BD CBOT 9/30/2013 1,504,168,886 209,625,054 1,294,543,832 1,217,124,083 989,239,987 227,884,096 6,000,000 0 6,000,000 0

11 BNY MELLON CLEARING LLC FCM CME 9/30/2013 285,888,490 20,000,000 265,888,490 243,691,889 116,557,582 127,134,307 35,531,290 15,993,869 19,537,421 0

12 BOCI COMMODITIES & FUTURES USA LLC FCM NFA 9/30/2013 4,632,267 1,000,000 3,632,267 0 0 0 0 0 0 0

13 CANTOR FITZGERALD & CO FCM BD CBOT 9/30/2013 201,084,080 11,673,471 189,410,609 6,277,097 1,308,107 4,968,990 0 0 0 0

14 CAPITAL MARKET SERVICES LLC FCM NFA 9/30/2013 1,918,277 1,000,000 918,277 0 0 0 0 0 0 0

15 CHS HEDGING INC FCM CBOT 9/30/2013 26,201,682 10,382,993 15,818,689 176,454,849 150,316,262 26,138,587 977,862 254,673 723,189 0

16 CITADEL SECURITIES LLC FCM BD CME 9/30/2013 351,478,749 1,000,000 350,478,749 0 0 0 0 0 0 0

17 CITIGROUP GLOBAL MARKETS INC FCM BD CBOT 9/30/2013 6,343,805,740 751,365,911 5,592,439,829 5,816,677,700 5,526,563,754 290,113,946 1,115,237,751 929,128,137 186,109,614 0

18 CREDIT SUISSE SECURITIES (USA) LLC FCM BD CBOT 9/30/2013 8,392,250,211 2,137,469,190 6,254,781,021 8,551,219,227 7,068,897,049 1,482,322,178 3,617,923,824 3,077,406,564 540,517,260 0

19 CROSSLAND LLC FCM CBOT 9/30/2013 9,203,296 1,840,381 7,362,915 80,057,740 78,420,216 1,637,524 7,491,707 6,866,811 624,896 0

20 CUNNINGHAM COMMODITIES LLC FCM CBOT 9/30/2013 2,922,977 1,196,195 1,726,782 65,937,838 64,810,005 1,127,833 571,198 397,722 173,476 0

21 DAIWA CAPITAL MARKETS AMERICA INC FCM BD CME 9/30/2013 391,941,567 8,617,965 383,323,602 9,210,599 3,972,061 5,238,538 632,094 0 632,094 0

22 DEUTSCHE BANK SECURITIES INC FCM BD CBOT 9/30/2013 7,271,025,770 633,691,782 6,637,333,988 14,520,446,103 13,997,233,518 523,212,585 1,156,722,073 925,109,595 231,612,478 0

23 DORMAN TRADING LLC FCM CME 9/30/2013 11,120,865 1,647,110 9,473,755 137,451,364 134,454,758 2,996,606 2,401,488 1,949,153 452,335 0

24 E D & F MAN CAPITAL MARKETS INC FCM BD CME 9/30/2013 27,918,978 5,990,052 21,928,926 192,427,543 181,785,646 10,641,897 2,470,887 1,843,678 627,209 0

25 E TRADE CLEARING LLC FCM BD NFA 9/30/2013 703,751,617 137,060,644 566,690,973 48,201,095 37,439,197 10,761,898 1,465,032 463,370 1,001,662 0

26 EFL FUTURES LIMITED FCM CME 9/30/2013 41,069,250 14,838,632 26,230,618 210,939,226 198,008,042 12,931,184 0 0 0 0

27 FCSTONE LLC FCM CME 9/30/2013 106,289,858 66,327,380 39,962,478 1,693,519,561 1,669,643,105 23,876,456 82,510,713 59,844,591 22,666,122 0

28 FIXI AMERICAS LLC FCM NFA 9/30/2013 1,581,433 1,000,000 581,433 0 0 0 0 0 0 0

29 FOREX CAPITAL MARKETS LLC FCMRFD NFA 9/30/2013 83,804,377 27,229,571 56,574,806 0 0 0 0 0 0 154,591,423

30 FRIEDBERG MERCANTILE GROUP INC FCM NFA 9/30/2013 6,638,263 1,000,000 5,638,263 4,111,825 3,549,129 562,696 1,215,512 1,155,538 59,974 0

31 FRONTIER FUTURES INC FCM NFA 9/30/2013 1,988,606 1,000,000 988,606 28,893,892 27,899,037 994,855 0 0 0 0

32 FXDIRECTDEALER LLC FCMRFD NFA 9/30/2013 21,706,794 20,934,416 772,378 0 0 0 0 0 0 28,688,321

33 GAIN CAPITAL GROUP LLC FCMRFD NFA 9/30/2013 44,047,092 24,780,104 19,266,988 142,133,744 136,196,564 5,937,180 4,087,678 3,264,250 823,428 105,602,082

34 GFI SECURITIES LLC FCM BD NFA 9/30/2013 15,270,509 1,000,000 14,270,509 0 0 0 0 0 0 0

35 GH FINANCIALS LLC FCM CME 9/30/2013 9,906,177 1,000,000 8,906,177 3,296,834 2,520,949 775,885 330,388 230,169 100,219 0

36 GLOBAL FUTURES & FOREX LTD FCMRFD NFA 9/30/2013 1,588,300 1,000,000 588,300 0 0 0 0 0 0 0

37 GOLDMAN SACHS & CO FCM BD CBOT 9/30/2013 14,578,316,287 2,073,238,212 12,505,078,075 18,521,256,729 17,982,469,556 538,787,173 8,738,267,973 8,191,754,422 546,513,551 0

38 GOLDMAN SACHS EXECUTION & CLEARING LP FCM BD CME 9/30/2013 2,088,412,190 129,358,268 1,959,053,922 1,383,422,832 804,280,610 579,142,222 72,273,447 25,950,466 46,322,981 0

39 GUGGENHEIM SECURITIES LLC FCM BD NFA 9/30/2013 57,121,104 1,285,139 55,835,965 0 0 0 0 0 0 0

40 HSBC SECURITIES USA INC FCM BD CME 9/30/2013 1,004,444,812 127,450,583 876,994,229 1,001,644,426 924,068,131 77,576,295 92,048,444 73,925,828 18,122,616 0

41 IBFX INC RFED NFA 9/30/2013 27,725,135 23,047,529 4,677,606 0 0 0 0 0 0 70,950,587

42 INSTINET LLC FCM BD NFA 9/30/2013 99,917,004 3,075,456 96,841,548 0 0 0 0 0 0 0

43 INSTITUTIONAL LIQUIDITY LLC FCMRFD NFA 9/30/2013 32,622,402 20,158,148 12,464,254 0 0 0 0 0 0 13,162,966

44 INTERACTIVE BROKERS LLC FCM BD NFA 9/30/2013 1,922,038,217 283,041,718 1,638,996,499 2,253,793,734 2,001,369,163 252,424,571 413,962,752 291,463,952 122,498,800 40,061,697

45 IRONBEAM INC FCM NFA 9/30/2013 2,277,556 1,000,000 1,277,556 39,247,783 37,837,192 1,410,591 111,215 4,358 106,857 0

46 ITG DERIVATIVES LLC FCM BD NFA 9/30/2013 4,703,769 1,000,000 3,703,769 0 0 0 0 0 0 0

47 JEFFERIES BACHE LLC FCM CBOT 9/30/2013 204,361,000 120,562,160 83,798,840 2,015,781,000 1,916,257,000 99,524,000 191,752,000 124,064,000 67,688,000 0

48 JP MORGAN CLEARING CORP FCM BD NFA 9/30/2013 6,838,218,091 1,784,735,435 5,053,482,656 889,326,014 619,964,701 269,361,313 681,283,018 453,203,445 228,079,573 0

49 JP MORGAN SECURITIES LLC FCM BD CEI 9/30/2013 14,580,355,431 1,912,324,267 12,668,031,164 18,591,583,837 16,703,123,340 1,888,460,497 3,577,161,800 3,165,953,634 411,208,166 0

50 KNIGHT CAPITAL AMERICAS LLC FCM BD CME 9/30/2013 356,697,379 21,443,189 335,254,190 494,063,375 477,583,598 16,479,777 11,238,261 7,858,663 3,379,598 38,863,784

51 LEK SECURITIES CORPORATION FCM BD NFA 9/30/2013 10,007,080 1,500,000 8,507,080 7,324,954 6,169,266 1,155,688 0 0 0 0

52 LINN GROUP THE FCM NFA 9/30/2013 3,533,253 1,883,968 1,649,285 79,246,711 75,541,923 3,704,788 348,081 81,628 266,453 0

53 LPL FINANCIAL LLC FCM BD NFA 9/30/2013 183,142,190 6,311,599 176,830,591 0 0 0 0 0 0 0

54 MACQUARIE FUTURES USA LLC FCM CBOT 9/30/2013 144,550,421 103,463,827 41,086,594 1,452,571,717 1,277,857,778 174,713,939 30,030,412 23,492,956 6,537,456 0

Futures Commission Merchant / Retail Foreign Exchange 

Dealer
SELECTED FCM FINANCIAL DATA AS OF 

September 30, 2013

FROM REPORTS FILED BY 

November 4, 2013

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A B C D E F G H I J K L M N O

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)

Futures Commission Merchant / Retail Foreign Exchange 

Dealer

61

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63

64

65

66

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55 MAREX NORTH AMERICA LLC FCM CME 9/30/2013 11,639,112 7,390,680 4,248,432 93,218,840 88,004,646 5,214,194 7,673,089 6,832,345 840,744 0

56 MB TRADING FUTURES INC FCMRFD NFA 9/30/2013 25,097,774 21,315,851 3,781,923 0 0 0 0 0 0 36,317,025

57 MCVEAN TRADING & INVESTMENTS LLC FCM NFA 9/30/2013 12,904,920 3,849,807 9,055,113 807,758,402 786,665,185 21,093,217 2,350,556 0 2,350,556 0

58 MERRILL LYNCH PIERCE FENNER & SMITH FCM BD CBOT 9/30/2013 12,031,925,657 901,130,259 11,130,795,398 9,168,970,027 8,816,496,192 352,473,835 2,648,350,715 2,395,530,176 252,820,539 0

59 MERRILL LYNCH PROFESSIONAL CLEARING CORP FCM BD NFA 9/30/2013 1,966,412,638 328,349,409 1,638,063,229 1,705,561,453 879,549,075 826,012,378 29,322,962 1,324,030 27,998,932 0

60 MID CO COMMODITIES INC FCM NFA 9/30/2013 10,425,473 3,360,797 7,064,676 46,304,631 34,941,808 11,362,823 0 0 0 0

61 MITSUBISHI UFJ SECURITIES USA INC FCM BD NFA 9/30/2013 225,767,277 2,019,819 223,747,458 0 0 0 0 0 0 0

62 MITSUI BUSSAN COMMODITIES USA INC FCM NFA 9/30/2013 3,385,192 1,000,000 2,385,192 0 0 0 0 0 0 0

63 MIZUHO SECURITIES USA INC FCM BD CME 9/30/2013 426,526,733 202,507,188 224,019,545 2,466,934,914 2,284,501,906 182,433,008 481,916,990 388,335,323 93,581,667 0

64 MORGAN STANLEY & CO LLC FCM BD CME 9/30/2013 7,221,900,056 1,530,726,086 5,691,173,970 9,102,487,543 8,894,601,313 207,886,230 2,576,633,448 2,322,718,313 253,915,135 0

65 MORGAN STANLEY SMITH BARNEY LLC FCM BD NFA 9/30/2013 3,888,222,103 167,121,021 3,721,101,082 726,165,259 637,877,862 88,287,397 88,523,036 63,761,977 24,761,059 0

66 NATIXIS SECURITIES AMERICAS LLC FCM BD NFA 9/30/2013 313,253,934 2,586,493 310,667,441 0 0 0 0 0 0 0

67 NEUBERGER BERMAN LLC FCM BD NFA 9/30/2013 84,623,125 1,500,000 83,123,125 0 0 0 0 0 0 0

68 NEWEDGE USA LLC FCM BD NYME 9/30/2013 1,807,006,609 1,015,076,541 791,930,068 14,376,172,385 13,725,670,092 650,502,293 3,359,334,923 3,016,527,869 342,807,054 0

69 NOMURA SECURITIES INTERNATIONAL INC FCM BD CBOT 9/30/2013 1,567,449,163 33,159,331 1,534,289,832 66,417,755 55,453,647 10,964,108 4,395,321 809,629 3,585,692 0

70 OANDA CORPORATION FCMRFD NFA 9/30/2013 133,648,644 26,132,177 107,516,467 0 0 0 0 0 0 132,643,538

71 OPPENHEIMER & CO INC FCM BD NFA 9/30/2013 158,953,792 26,153,289 132,800,503 32,320,894 16,244,043 16,076,851 0 0 0 0

72 OPTIONSXPRESS INC FCM BD NFA 9/30/2013 99,733,200 6,778,031 92,955,169 111,031,924 81,586,567 29,445,357 3,646,839 1,072,201 2,574,638 0

73 PHILLIP FUTURES INC FCM CME 9/30/2013 28,122,631 20,000,000 8,122,631 126,717,760 105,911,581 20,806,179 6,030,230 2,953,808 3,076,422 0

74 PIONEER FUTURES INC FCM NFA 9/30/2013 2,369,743 1,000,000 1,369,743 0 0 0 0 0 0 0

75 RAND FINANCIAL SERVICES INC FCM CME 9/30/2013 79,306,918 19,697,489 59,609,429 340,778,500 300,822,100 39,956,400 31,717,300 9,014,300 22,703,000 0

76 RAYMOND JAMES & ASSOCIATES INC FCM BD NFA 9/30/2013 431,501,807 37,625,076 393,876,731 0 0 0 0 0 0 0

77 RBC CAPITAL MARKETS LLC FCM BD CME 9/30/2013 1,099,504,171 109,536,323 989,967,848 960,946,934 895,779,481 65,167,453 191,386,753 121,815,547 69,571,206 0

78 RBS SECURITIES INC FCM BD CBOT 9/30/2013 4,352,648,017 132,375,111 4,220,272,906 1,553,250,738 1,401,009,177 152,241,561 212,604,127 94,293,330 118,310,797 0

79 RJ OBRIEN ASSOCIATES LLC FCM CME 9/30/2013 192,625,623 129,543,641 63,081,982 3,777,320,592 3,662,943,335 114,377,257 173,100,563 147,749,177 25,351,386 1,337,790

80 ROSENTHAL COLLINS GROUP LLC FCM CME 9/30/2013 75,492,702 56,018,927 19,473,775 1,454,490,898 1,432,776,143 21,714,755 37,320,923 27,295,826 10,025,097 0

81 SANFORD C BERNSTEIN & CO LLC FCM BD NFA 9/30/2013 170,096,129 19,024,334 151,071,795 0 0 0 0 0 0 0

82 SANTANDER INVESTMENT SECURITIES INC FCM BD NYME 9/30/2013 217,357,033 8,452,810 208,904,223 674,444,681 672,033,184 2,411,497 0 0 0 0

83 STATE STREET GLOBAL MARKETS LLC FCM BD CME 9/30/2013 531,668,383 19,346,629 512,321,754 305,952,414 217,922,891 88,029,523 64,316,745 23,049,108 41,267,637 0

84 STRAITS FINANCIAL LLC FCM CME 9/30/2013 9,508,426 3,987,448 5,520,978 138,113,377 131,056,593 7,056,784 23,585,064 21,956,185 1,628,879 0

85 TD AMERITRADE INC FCM BD NFA 9/30/2013 305,075,239 10,515,870 294,559,369 141,534,398 117,283,048 24,251,350 0 0 0 0

86 TIMBER HILL LLC FCM BD CME 9/30/2013 469,950,158 50,425,353 419,524,805 693,978,082 691,441,153 2,536,929 0 0 0 0

87 TRADELINK LLC FCM BD CBOT 9/30/2013 14,362,999 1,000,000 13,362,999 0 0 0 0 0 0 0

88 TRADESTATION SECURITIES INC FCM BD NFA 9/30/2013 58,714,386 3,404,646 55,309,740 409,320,140 398,587,364 10,732,776 16,905,204 15,813,960 1,091,244 0

89 TULLETT PREBON FINANCIAL SERVICES LLC FCM BD NFA 9/30/2013 29,919,538 1,000,000 28,919,538 0 0 0 0 0 0 0

90 UBS FINANCIAL SERVICES INC FCM BD NFA 9/30/2013 1,447,982,620 96,356,500 1,351,626,120 122,988,090 101,088,260 21,899,830 24,370,457 2,683,340 21,687,117 0

91 UBS SECURITIES LLC FCM BD CBOT 9/30/2013 9,294,132,544 912,647,484 8,381,485,060 8,725,882,618 8,078,466,011 647,416,607 4,800,087,745 4,379,811,074 420,276,671 0

92 VELOCITY FUTURES LLC FCM NFA 9/30/2013 1,264,470 1,000,000 264,470 60,858,099 59,832,975 1,025,124 1,223,126 799,896 423,230 0

93 VISION FINANCIAL MARKETS LLC FCM BD CME 9/30/2013 34,258,099 10,083,116 24,174,983 481,036,327 470,618,903 10,417,424 16,318,432 14,288,639 2,029,793 0

94 WELLS FARGO ADVISORS FINANCIAL NETWORK LLC FCM BD NFA 9/30/2013 57,467,253 1,000,000 56,467,253 0 0 0 0 0 0 0

95 WELLS FARGO ADVISORS LLC FCM BD NFA 9/30/2013 1,536,774,762 1,500,000 1,535,274,762 0 0 0 0 0 0 0

96 WELLS FARGO SECURITIES LLC FCM BD CME 9/30/2013 3,153,455,580 58,379,073 3,095,076,507 16,776,503 6,666,932 10,109,571 5,032,981 0 5,032,981 0

97 WHITE COMMERCIAL CORPORATION FCM NFA 9/30/2013 2,709,540 1,000,000 1,709,540 0 0 0 0 0 0 0

98 WHOTRADES FX LLC FCM NFA 9/30/2013 1,782,650 1,000,000 782,650 0 0 0 0 0 0 0

99 XCHANGE FINANCIAL ACCESS LLC FCM BD NFA 9/30/2013 5,804,876 1,000,000 4,804,876 34,257,944 32,184,450 2,073,494 0 0 0 0

100 YORK BUSINESS ASSOCIATES LLC FCM NFA 9/30/2013 4,961,615 1,000,000 3,961,615 52,833,887 50,514,508 2,319,379 2,231,204 1,918,524 312,680 0

Totals 153,777,206,786 142,493,827,451 11,283,379,335 39,147,678,379 34,573,654,360 4,574,024,019 622,983,354

August Web Page Update 100

Additions 0

None
SELECTED FCM FINANCIAL DATA AS OF 

September 30, 2013

FROM REPORTS FILED BY 

November 4, 2013

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A B C D E F G H I J K L M N O

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)

Futures Commission Merchant / Retail Foreign Exchange 

Dealer

116

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Deletions 0

None

Name Changes

None

September Web Page Update 100
SELECTED FCM FINANCIAL DATA AS OF 

September 30, 2013

FROM REPORTS FILED BY 

November 4, 2013

4 of 4

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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)

Futures Commission Merchant / Retail Foreign Exchange 

Dealer

123

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(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.

(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.

(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.

(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.

(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.

•  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

•  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.

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

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

(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.

(b): DSRO: Designated Self-Regulatory Organization.