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Global Broker Regulation & Inquiry App

National Futures Association

Year 1982Regulated by Government

National Futures Association (NFA) is the industrywide, self-regulatory organization for the U.S. derivatives industry, providing innovative and effective regulatory programs. Designated by the CFTC as a registered futures association, NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure Members meet their regulatory responsibilities.

Disclose broker
Sanction Permanent cessation of business / revocation of license
Disclosure summary
  • Disclosure matching Name matching
  • Disclosure time 2022-03-30
  • Reason for punishment The BCC found that eDeal and Narasimhan failed to cooperate fully with an NFA examination and failed to supervise the firm's operations.The BCC also found that eDeal acted in the capacity of a futures commission merchant or retail foreign exchange dealer without registration or exemption, failed to list two individuals as principals and allowed one of those individuals to act as an associated person of eDeal without registration, made prohibited representations regarding NFA, and used misleading promotional material.
Disclosure details

NFA permanently bars Chennai, India commodity pool operator and commodity trading advisor eDeal Market LLC and its principal Nithya Narasimhan from membership.

For Immediate Release March 30, 2022 For more information contact: Christie Hillsman, 312-781-1497, chillsman@nfa.futures.org Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org NFA permanently bars Chennai, India commodity pool operator and commodity trading advisor eDeal Market LLC and its principal Nithya Narasimhan from membership March 30, Chicago—NFA has permanently barred eDeal Market LLC (eDeal), a former NFA Member commodity pool operator and commodity trading advisor located in Chennai, India, and Nithya Narasimhan, its former principal and associated person, from membership and from acting as a principal of an NFA Member. The default Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and eDeal and Narasimhan's failure to file an Answer. The BCC found that eDeal and Narasimhan failed to cooperate fully with an NFA examination and failed to supervise the firm's operations. The BCC also found that eDeal acted in the capacity of a futures commission merchant or retail foreign exchange dealer without registration or exemption, failed to list two individuals as principals and allowed one of those individuals to act as an associated person of eDeal without registration, made prohibited representations regarding NFA, and used misleading promotional material. The complete text of the Complaint and Decision can be viewed on NFA's website.
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