新规则要求NFA外汇交易商成员增加例如“增加资本要求”等一系列风险管理实践。
全球金融危机后,散户投资者显得尤为重要，为了保护个人利益，场外交易市场一直受到监管机构的严苛监督和更严格规则约束。
今天美国商品期货交易委员会（CFTC）宣布，他们将加大力度保护外汇零售交易者。美国监管观察了期货和期权市场，已经同意了对规则的修订以及由全国期货委员会（NFA）修改发布新的解释性公告。
规则修订和解释性公告的发布是为了对作为NFA会员的外汇交易商（称为FDMs），美国衍生品业包括通过交易所进行交易的期货，零售场外交易，以及掉期交易的加强要求。
规则如下：
1.对外汇交易商加大额外资本的要求；
2.要求外汇交易商保证符合条件的交易对手场外交易的入金安全，零售交易对手除外；
3.要求外汇交易商采用和实施严格的风险管理系统；
4.要求外汇交易商提供在其官方网站中的额外的市场披露和公司相关信息，使当前和潜在的交易对手能更好的处理管理风险以及与特殊的外汇交易商进行业务。
新的规则下，外汇交易商将被要求保持净资产加上成员负债百分比要等同，或者超过2000万美元。
如前所述,新规则遵循一系列跨多个司法管辖区的场外衍生品交易的新规定。事实上,Finance Magnates今天报道,澳大利亚将推出新的保证金外汇和CFD的交易规则,这将是澳大利亚证券和投资委员会的监督手段之一。
CFTC Approves NFA Amended Rules to Better Protect Retail Forex Traders
The new rules require NFA forex dealer members to ramp up a range of risk management practices, including increasing capital requirements.
Following the Global Financial Crisis, OTC (over the counter) markets have been subject to greater oversight and tighter rules from regulators. Protection of individual, retail investors is one of the underlying motives.
Accordingly, an announcement today from the U.S. Commodity Futures Trading Commission (CFTC) seeks to further protect retail foreign exchange (forex) traders. The U.S. watchdog that oversees futures and option markets has approved rule amendments and a new interpretive notice filed by the National Futures Association (NFA).
The rule amendments and interpretive notice stipulate enhanced requirements for those forex dealers (referred to as FDMs) that are members of the NFA, an organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency transactions, and swap transactions.
The rules include:
imposing additional capital requirements on FDMs;
requiring FDMs to collect security deposits for off-exchange foreign currency transactions from eligible contract participant counterparties in addition to retail counterparties;
requiring FDMs to adopt and implement rigorous risk management programs; and
requiring FDMs to provide additional market disclosures and firm-specific information on their websites to permit current and potential counterparties to better assess the risks of engaging in off-exchange foreign currency transactions and with conducting business with a particular FDM.
Under the new rules, forex dealers will be required to maintain adjusted net capital equal to or in excess of $20 million plus certain percentages of the member’s various liabilities.
As mentioned, the new rules follow a raft of new regulation surrounding OTC derivative trades across multiple jurisdictions. Indeed, Finance Magnates reported today that Australia is set to roll out new rules for margin forex and CFD trading, which will be supervised by the Australian Securities and Investments Commission.
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