NEW YORK, NY May 8, 2008
– FXDD, a global leader in online foreign exchange trading, today announced its applications for becoming a National Futures Association (NFA) member and for registration as a Futures Commission Merchant (FCM) with the CFTC are pending approval. Clients may follow FXDD progress through the registration process by logging on to the NFA’s website (www.nfa.futures.org) and searching the BASIC system under its NFA ID number 0397435.
“The pending reauthorization legislation for the CFTC will fill the gaps left by previous legislation and narrow the playing field for entities in the Forex space. The value of companies as registered entities and non-registered entities is driven by many factors; registration is certainly one of those factors,” commented James E. Green, FXDD’s chief legal counsel. “FXDD is always interested in increasing its business under the appropriate circumstances by providing professional service and promoting certainty and clarity as to the government and private agencies responsible for regulating Forex dealers.”
Inquiries
James Green, Chief Legal Counsel +1.212.791.6475
Jennifer Van Hofwegen, Head of Marketing & Communications +1.212.791.6491
Hi Alan, good post. Did you see that FXDD has exceeded the capital requirements required by the NFA. It shows on their website that they are over $44 million. John
No John I did not notice, but thanks for letting me (and everyone) know! From the looks of it FXDD is growing quite rapidly.
I’m going to check to see if they’re NFA approved yet, but once they do get approved (if they’re not already) I will definitely feel more comfortable trading with them.