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US futures regulator raises minimum security deposits for more currencies

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The US National Futures Association on Monday will increase the minimum security deposit requirements for five more foreign exchange transactions due to volatility in currency markets, the regulator said on Friday.

[CHICAGO] The US National Futures Association on Monday will increase the minimum security deposit requirements for five more foreign exchange transactions due to volatility in currency markets, the regulator said on Friday.

The Chicago-based NFA, which is funded by industry fees, will require forex dealer members to maintain a minimum security deposit of 20 per cent of the notional value of transactions for Russian ruble deals and 3 per cent for Japanese yen deals, according to a notice. Other currencies affected are the Australian dollar, Brazilian real and Mexican peso.

All the increases take effect as of 4 pm CST (2200 GMT) on Monday.

On Thursday, the NFA raised minimum deposit requirements for other foreign exchange transactions, including the Swiss franc.

REUTERS

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