Mandatory Membership

Mandatory membership is the cornerstone of IDFA's regulatory structure, and makes effective industrywide self-regulation possible. IDFA Bylaw 1101 prohibits IDFA Members from doing business with most non-Members that are required to be registered with the CFTC as futures commission merchants (FCM), introducing brokers (IB), commodity pool operators (CPO) or commodity trading advisors (CTA). Members must examine their relationships with other registrants, customers, third-party account controllers, exempt firms and branch offices to ensure compliance with IDFA Bylaw 1101.