Legacy Swaps Brokers and Regulatory Outtrades - National Introducing Brokers Association

An Introducing Broker IB is an individual or organization that solicits or accepts orders to buy or sell futures contracts, forex, commodity options, or swaps but does not accept money or other assets from customers to support such orders. Independent IBs are required to maintain accounting systems that are similar to those of any other business.

Records must be prepared following generally accepted accounting principles. Independent IBs must maintain a minimum net capital requirement and adhere to financial reporting requirements.

Forex Brokers that allow Scalping

Guaranteed IBs that have filed the appropriate guarantee agreement are not subject to the minimum net capital or financial reporting requirements. All IBs are required to have an anti-money laundering AML compliance program in place pursuant to the International Money Laundering Abatement and Anti-Terrorist Financing Act of Title III , which was signed into law on October 26, NFA rules outline the content and scope of this program and NFA has developed numerous resources to assist Members in meeting this regulatory responsibility.

Introducing Brokers IBs Annual IB Requirements Independent IB Financial Requirements Guaranteed IB Requirements IB Applicants Anti-Money Laundering. Electronic Filings NFA Members can file many of their required documents electronically. NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.

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