On October 4th, the National Futures Association announced that an amendment to NFA Bylaw 1301(b), which sets forth the schedule of dues and assessments for FCMs, is effective as of November 1, 2010. The amendment exempts a person's proprietary trading from the NFA assessment fee for trades on all foreign futures markets if the person has privileges of membership on any NFA Member contract market that has annual transaction volume of at least 1,000,000. However, the exemption does not apply to the foreign proprietary trades of a person's parent, affiliate, or subsidiary unless these entities separately have privileges of membership on an NFA Member contract market that has annual transaction volume of at least 1,000,000. NFA Notice I-10-19.