Co-authored by Maureen C. Guilfoile and Blake J. Brockway.
On June 27, the National Futures Association (NFA) issued a notice reminding members that, beginning July 2, 2012, all member futures commission merchants (FCMs) that hold customer futures and option segregated funds or foreign futures and options secured amount funds will be required to file Segregated Investment Detail Reports (SIDRs) as of the 15th day of each month (or following business day) and the last business day of each month.
FCMs will be required to provide the following information on all SIDRs: (1) the dollar amount of customer segregated funds held in cash and each type of permitted investment; (2) the identity of each depository holding customer segregated funds and the dollar amount held at each depository; (3) the dollar amount of foreign futures and foreign option secured amount funds held in cash and each type of permitted investment; and (4) the identity of each depository holding foreign futures and foreign option customer secured amount funds and the dollar amount held at each depository.
The first SIDR filed pursuant this requirement will report the information as of the close of business on July 16 and must be filed by 11:59 p.m. Eastern time on July 17. FCMs for which NFA is the designated self regulatory organization currently file a monthly SIDR through the NFA’s EasyFile system; however, beginning with the SIDR due on July 17, all FCMs must file SIDRs electronically through the WinJammer system.
In addition to the SIDR filing requirement, NFA reminded members that, beginning July 17, all FCMs will be required to file daily segregation and secured amount statements and monthly financial statements with NFA.
NFA’s notice to members is available here.