On May 13, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued the Residual Interest Deadline for Futures Commission Merchants Report (Report). The Residual Interest Deadline is the time by which a futures commission merchant (FCM) must assure that it is holding in its customer segregated accounts a sufficient amount of its own funds (i.e., its residual interest, that is at least equal to the amount by which its customers’ segregated accounts, in the aggregate, are undermargined). The Residual Interest Deadline is currently 6:00 p.m. Eastern on the date of settlement. DSIO staff determined that changing the Residual Interest Deadline to the time of settlement or another time would not be practicable for customers or FCMs and, therefore, recommended that the Residual Interest Deadline remain at 6:00 p.m.
Comments on the Report may be submitted until June 13.
A copy of the report is available here.