9/1/2023 0 Comments Doc to pdf maker![]() ![]() Pay non-refundable application fee of $15,000.Complete online NFA membership application.Designate a Security Manager in order to obtain secure access to NFA's Online Registration System (ORS).To provisionally register as a SD and become an NFA Member: Currently, the de minimis threshold is $8 billion.Īll registered and provisionally registered SDs must be NFA Members. See CFTC Regulation 1.3 for exceptions and limitations.įor example, entities are exempt from the SD registration on the basis of de minimis activity-the aggregate gross notional amount of the swaps that an entity enters into over the prior 12 months in connection with dealing activities. A swap dealer (SD) is an entity that holds itself out as a dealer in swaps makes a market in swaps regularly enters into swaps with counterparties as an ordinary course of business for its own account or engages in any activity causing the entity to be commonly known in the trade as a dealer or market maker in swaps. ![]()
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