Adjusted Net Capital: This is the amount of regulatory capital available to meet the FCM's minimum net capital requirement. The classification of assets and liabilities used in arriving at net capital, and the additional capital haircuts that a FCM may be required to take, are set forth in CFTC Regulation 1.17.
Net Capital Requirement: The minimum net capital that each FCM must maintain is determined under CFTC Regulation 1.17(a)(1)(i). Refer to pages 7-11 through 7-12 of the Form 1-FR-FCM Instructions for more information regarding how to compute the net capital requirement.
Excess Net Capital: This is the amount by which the adjusted net capital exceeds the net capital requirement.