This data ranks all the FCMs by amount of customer funds as of August 2011. If MF Global did lose $700 million in client funds, as some have said, that's about 10% of the total. So hopefully clients get at least 90 cents on the dollar back. CME says they don't know how much is missing so this is all premature of course. But it is still sickening.
On a side note and interesting to me at least, is that my broker OpenECry's growth in customer funds (now at 81 million) has plateaued. (Source) Maybe being bought by OptionsExpress, which is now owned by Charles Schwab, has hurt growth or maybe it's just the economy?
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I used to use MFGlobal too, until early this year. Talk about being lucky. I switched.
ReplyDelete-TCat
Wow, it proved that my brain knows where to put my money..MF Global was my 2nd choice. Dear CME..I watching u
ReplyDeleteLOL....The OEC chart is showing a double-top formation. Hmmm....hope its not time to go short :) Been OEC customer since 2003...at the time they had less than 4 million in client funds.
ReplyDeletewatch out! that is batman head formation.
ReplyDeleteI started to write daily PL blog under the influence of you guys. I'm not sure how long I will be doing that.
ReplyDeleteThanks!
Judy
TCat and TST - guess we are all smart (or lucky).
ReplyDeleteAnon- wow - you were an original with OEC!
Cory- thanks for laugh - I see the "ears" now!
Judy- welcome to blogging. Good luck!