Regulatory and Account Changes
As of
May 15th, new regulation requirements are being handed down by the NFA. These requirements will affect all FXCM Micro and domestic based trading accounts.
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The NFA has received notice that the Commodity Futures Trading Commission has approved new NFA Compliance Rule 2-43 regarding forex orders. The prohibition on carrying offsetting transactions will be effective for any positions established after May 15, 2009. The requirements regarding price adjustments will become effective as to all customer orders executed after June 12, 2009.
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This new regulation means that after May 17, all hedging will be disabled .
If you are currently in a hedged position at the time of the policy change, you will be allowed to maintain it. However, once the hedge is closed new hedged positions will not be allowed.
As we adapt to a new and changing regulatory environment, please contact us if you have any direct concerns.
Walker
