Broker Access and Proficiency Training
Security futures can be traded in a securities account or a futures account maintained by a securities broker or a futures commission merchant.
Broker Proficiency Training
The National Futures Association (NFA) and Financial Industry Regulatory Authority (FINRA), in conjunction with the Institute for Financial Markets (IFM) have developed a free, on-line broker proficiency training course for security futures.
Completing this training program satisfies the NFA/FINRA requirement for registered securities and futures professionals to offer security futures to their customers.
There are five modules in the on-line course:
- 1. Stocks and Stock Options
- 2. Futures Contracts
- 3. Security Futures Products
- 4. Regulatory Requirements for Security Futures
- 5. Supervision of the Sale and Offer of Security Futures
Registered professionals may not be required to complete all five modules. For example, individuals already registered with FINRA may not be required to complete module 1, Stocks and Stock Options. Please contact the NFA and/or FINRA for definitive information regarding the modules required to complete.
Professionals registered only with the NFA should access the training program through the NFA’s Web site (www.nfa.futures.org), and individuals registered with FINRA or with dual-registration should access the program on FINRA’s Web site (www.finra.org).
Institutions and traders should inquire directly with their current broker or may contact one of the firms already connected to OneChicago, such as those listed below:
|Brokerage Firm||Contact Information|
|ADM Investor Services Inc.||800-243-2649
|High Ridge Futures||Steven Silver
|LightHorse Market Solutions||Jason Halikias
|Mizuho Securities||Jeff Ollada 312-294-8792
|PTI Securities & Futures LP, PTI ProDirect||800-821-4967
|Societe Generale Securities LLC (formerly known as Newedge)||Mark Eaton 312-765-1463
|Tavira Securities Ltd.||011 44 20 3603 4785 (London)
|TFS Derivatives Corporation||212-943-5749
|UBS Securities LLC.||800-722-0977
|Wedbush Securities Inc.||Mike O’Callaghan 312-356-6033