CFTC Settles Charges against FX Trading, LLC for Failing to Maintain Minimum Net Capital Required for Futures Commission Merchants

CFTC Press Release

May 11, 2011

The CFTC announced that a federal court entered a consent order requiring FX Trading, LLC (FX Trading), of Iselin, N.J., to pay a $110,000 civil monetary penalty for failing to satisfy the minimum financial requirements for CFTC-registered futures commission merchants (FCMs). FX Trading has been registered with the CFTC as an FCM since October 14, 2005.

The consent order stems from a CFTC enforcement action filed on December 7, 2005, alleging that, since at least October 31, 2005, FX Trading failed to comply with the minimum net capital requirements it must meet as a CFTC-registered futures commission merchant.

Cross References

CEA Sec. 4f(b);

CFTC Rule 1.17(a)(1)