Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich February 23, 2009

FDMs must collect security deposits of 1% of notional value on major currency pairs and 4% on other currency pairs. FDMs that maintain 150% of their capital requirement will be exempted. The Interpretive Notice cites customer safety as a reason for the leverage restrictions. It also notes that the new standards bring security deposit requirements in the retail forex industry more in line with typical IMM margins.