On June 19th, the National Futures Association announced the implementation of Phase 2 of the Financial Requirements Section 4. Financial Requirements Section 4 requires futures commission merchants ("FCMs") that hold customer segregated funds to instruct the depositories holding these funds to report the balances in these accounts on a daily basis. Phase 1, which became effective February 15, 2013, requires all banks and trust companies holding customer segregated cash and securities balances to report the end of day balances in those accounts to AlphaMetrix360, LLC. Phase 2 requires derivative clearing organizations and clearing FCMs acting as a segregated funds depository for customer funds of another FCM to report the end of day balances in all customer omnibus accounts held by DCOs and clearing FCMs directly to the DSRO of the non-clearing FCM for which the DCO or clearing FCM is holding the customer segregated funds. NFA Notice to Members I-13-15.