On December 4, the National Futures Association (NFA) submitted proposed amendments to NFA Compliance Rule 2-36 and Rule 2-43 to the Commodity Futures Trading Commission.

The amendment to NFA Compliance Rule 2-36 will require forex dealer members (FDM) to disclose to customers on a per-trade basis: (1) any commissions or other fees charged; (2) for FDMs using a straight-through processing (STP) model, any mark-up or mark-down imposed on the price received from the liquidity provider for the offsetting position; and (3) for FDMs using a non-STP model, the mid-point spread cost. Further, the amendment will require FDMs not using the STP model to provide customers with a description of the mid-point spread cost in a form and manner acceptable to the NFA.
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