Tag: nfa introducing broker

December 10, 2015 BY LeapRate Staff

NFA fines Chicago-based XFA $75,000 and relegates it to introducing broker status

The self-regulatory organization for the U.S. derivatives industry, National Futures Association (NFA), has barred Chicago, Illinois based X-Change Financial Access LLC (commonly known as 'XFA') from operating as a futures commission merchant (or 'FCM'), allowing XFA to only operate as an NFA Member introducing broker. In addition, the NFA has ordered XFA to pay a $75,000 fine.…

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