Audit Advisory Notice
 | 
From Audit Department
Subject Financial Reporting Requirements
Effective Date 05/16/01
Notice Number 01-03

Recently, several inquiries have been received regarding the financial statement filing requirements of clearing members. All filing requirements apply to active as well as in-active clearing members.

CME requires all clearing members to file monthly financial statements � a Form 1-FR for FCMs and Non-FCMs/Non-Broker/Dealers and a FOCUS Report for Broker/Dealers. Such monthly financial statements must be received by the Audit Department within 17 business days of the report date and must be filed electronically through WinJammer�.

CME also requires all clearing members to file certified financial statements as of the clearing member�s fiscal year-end. These financial statements must be received by the Audit Department within 60 days of year-end for Broker/Dealer clearing members and within 90 days of year-end for FCM only and Non-FCM/Non-Broker/Dealer clearing members.

In addition, CFTC regulations require CFTC approval and DSRO notification of:

    • An FCM�s request for an extension of time to file its financial statement. Refer to CFTC Regulations 1.10(f) and 1.16(f).

    • An FCM�s request for a change of its fiscal year-end. Refer to CFTC Regulation 1.10(e)(1).

CFTC regulations also require CFTC and DSRO notification of a change in an FCM�s public accountants. Refer to CFTC Regulation 1.16(g).

For Non-FCMs, all approvals must be obtained from the DSRO.

If you have any questions, please call the Audit Department at (312) 930-3230 or e-mail us at audits@cme.com.