NFA Announces Increases to Member Swap Dealer and Major Swap Participant Annual Dues

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The US National Futures Association (NFA) has issued yesterday a notice to members that the annual dues on NFA Member swap dealers (SD) and major swap participants (MSP) would increase, effective January 1, 2022.

In detail, the increases to these annual dues amounts are as follows:

• Annual dues for large financial institution (LFI) SD Members will increase from $1,000,000 to $1,300,000;

• Annual dues for non-LFI SD Members will increase from $250,000 to $325,000;

• Annual dues for SD Members that are affiliates of SD Members paying dues in one of the above categories will increase from $150,000 to $200,000; and

• ​Annual dues for MSP Members will increase from $150,000 to $200,000.

The Association elaborated that the current dues amounts have remained unchanged, except for a reduction in MSP annual dues, since NFA established its swap regulatory program in 2013.  Given the expansion of NFA's swaps regulatory program over the past eight years, NFA's Board of Directors unanimously approved the change.

In August, Fazzaco reported that NFA has reduced minimum security deposits ​for currency pairs involving GBP and JPY.