Yes, your funds are segregated from the working capital of our FCM's. In order to comply with CFTC 1.25, clearing firms must ensure proper segregation of customer funds. More information can be found below:
- All customer funds for trading on designated contract markets (exchanges) must be kept apart (“segregated”) from the futures commission merchant’s (FCM’s) own funds—this includes cash deposits and any securities or other property deposited by such customers to margin or guarantee futures trading.
- Segregated accounts must be titled for the benefit of the FCM’s customers.
- Acknowledgements must be provided that would preclude a bank or clearinghouse from recognizing a right of offset against the account for the FCM’s debts.
- Customer funds in segregation have a bankruptcy preference in the event of FCM insolvency.
- To the extent that customer funds are not sufficient to pay customer claims, the remainder of what customers are owed will participate pro rata in the distributions to unsecured creditors of the bankrupt FCM.
Regarding the NFA's obligation to hold FCMs to this,
on August 16, Chicago - The Board of Directors of National Futures
Association (NFA) today approved amendments to NFA Financial Requirements that
will require each futures commission merchant (FCM) to provide its Designated
Self-Regulatory Organization (DSRO) with view-only access via the Internet to
account information for each of the FCM's customer segregated funds account(s)
maintained and held at a bank or trust company. The same requirement would
apply to the FCM's customer secured account(s) held for customers trading on
foreign futures exchanges.
Are my funds secured or insured?
Funds held in Futures only accounts are not insured. However, through our Clearing Firms (FCM), all futures customer deposits are kept in segregated bank accounts that are held separate from the working capital of the FCM. This customer segregation ...
What is an FCM?
A Futures Clearing Merchant is an organization that solicits or accepts orders to buy or sell futures or options contracts and accepts money or other assets from customers in connection with such orders. FCM’s work with the exchanges to handle ...
Funding your account at Edge Clear often requires wiring funds to your segregated account at the FCM. Though most FCMs do not charge a fee for the transfer of funds into an account, they may charge a fee for the transfer of funds out of the account. ...
Financial Data for FCMs
Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. To view ...
CQG Data Transaction & Monthly Fees
CQG costs can vary based on the front end platform you are using. Below is a non comprehensive list of monthly CQG connection fees per platform: CQG Desktop/Mobile: $25 per month, $0.25 per contract on top of exchange fees, NFA fees, and commissions ...