Record keeping

All FCMs and IBs must maintain a permanent record related to their customers,  that will include each customer's name, address, and occupation. FCMs and IBs complete details should be maintained and systematic records, together with all related data and memoranda, of all transactions that had taken place.

As soon as getting receipt, FCMs and IBs must prepare a written record of a customer's order. This order will include the date and time of receipt and the date and time it is transmitted for execution. In addition, a floor broker executing the trade must prepare a written record including the date and time of execution.

A financial ledger for each customer must be maintained that includes a record of all transactions, credits, debits, etc. A record or journal should be maintained that shows all transactions made on each business day by the FCM or IB. All records will be maintained under the Commodity Exchange Act (CEA) Accompanying regulations must be retained for five years. They may be maintained in electronic form. this prevents any fraudulent practices. Irrespective of the form of records, they must be open for inspection by the CFTC, the National Futures Association, and the Department of Justice. They will acknowledge the records after verification.

Each CFTC registrant, must supervise the handling by its partners, officers, employees, and agents (or persons occupying a similar status or performing a similar function) of all commodity interest accounts carried, operated, advised, or introduced by the registrant-customer and all other activities of such persons relating to its business as a CFTC registrant. An associated person who has no supervisory duties, is exempted from these procedures

All firms are subject to antifraud prohibition in the CEA when acting for or on behalf of a customer. Other Futures Commission Merchant and Introducing Broker Requirements will be

Minimum net capital

Customer funds

IBs do not hold customer funds

Financial and other filings

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