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Velocity Excess Net Capital Requirement
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Velocity Excess Net Capital Requirement

  #11 (permalink)
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Velocity's 12M CFTC reporting Data

anyone reading and analyzing the data should draw their own conclusions... to start I want to make sure you have read the fact that this numbers dont provide a 100% accurate picture of growth within the FCM.. merely provide you with an idea...

Velocity's YTD customer funds growth has been 4.55%... and rolling 12M has been 17.53% ... keep in mind all the factors that can impact those numbers..

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  #12 (permalink)
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Dale Box View Post

as per the article..

CHICAGO--(BUSINESS WIRE)--Velocity Futures, a computer-based Futures Commission Merchant (FCM), has reached a major milestone by processing the 400 millionth contract for its commodities and futures trading clients.

handling your 400 millonth contract over the past 8 years is an accomplishment indeed, but keep in mind there are much larger FCM's driving those on a monthly basis alone, and quite easily on a quarterly basis... so when I am referring to driving lots of volume, I am referring to monthly, not over a lifetime... after all 400M cars amounts to just 227K contracts per day over the past 8 years.. significant, but a small percentage of daily trading volume @ CME or any of the other exchanges.

I did find this piece of information interesting... for which I will take a look at what is reported and compare back 16 months as well..

Client funds held at Velocity grew 126 percent in the 16 months ending April 2011, more than five times that of the overall industry’s growth of 25 percent, according to Commodity Futures Trading Commission

Also, your news release does not state of that 126% growth was due to customer acquisition (new funds) or customer trading.. rather difficult to really tell from the release.

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  #13 (permalink)
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Dale Box View Post
I donít wish to argue anything on an internet forum and I respect your concerns. Thatís exactly why I said, Ďíyouíre free to move the account.íí Iím sorry you feel your questions arenít being answered. I will now leave this thread as Iíve said all I can say.

ok, you can always choose to ignore my questions I guess.. it is a free country and I am not raising a complaint about your firm nor do I have any... I understand that being your position; but I dont know how to interpret that position to be honest, if that means your hands are tied because you cant disclose certain things or just because you are not interested on providing clarification to some questions, which are valid.

If all FCM's felt the way you do, then they would not have anything more than the requirement and a bare min buffer above that requirement within their reserves. IMHO, that would just demonstrate greater stability on the FCMs part and greater responsibility and accountability from their management.

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  #14 (permalink)
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Dale Box View Post
I am not taking this personally at all..

when someone says, specially a sales rep, "feel free to move your account", to me.. that means they have taken the debate personally vs. addressing a customer inquiry. luckily, I dont ever take anything personally.. so the statement does not anger me or drive me to action... I like your tech and portal.. no reason to move my account when I have a very small pct there.

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  #15 (permalink)
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sysot1t,

Seems to me your point of the thread was to highlight the net capital requirement and Velocity's low excess amount. You've done that. Velocity seems to feel there is not much use in having excess, for the reasons Dale stated. Perhaps you would be better off contacting Dale privately if there is something else left unresolved.

When I read this thread I feel like you were attacking Velocity. I think it boils down to this: do you feel safe at Velocity? Do you feel Velocity takes better care of your account than others? Do you like the features offered to you by Velocity?

If you answer yes, then be happy with Velocity. If answers are no, then move your account. Selecting a broker is a lot like selecting a platform, one size does not fit all.

You know that I use Velocity and am very pleased with them. In particular, Dale has been an absolute great resource for me and I think he is absolutely the kind of guy to be very honest and direct about most any topic. Why not give him a call.

Mike

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  #16 (permalink)
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sysot1t View Post
when someone says, specially a sales rep, "feel free to move your account", to me.. that means they have taken the debate personally vs. addressing a customer inquiry. luckily, I dont ever take anything personally.. so the statement does not anger me or drive me to action... I like your tech and portal.. no reason to move my account when I have a very small pct there.

A colleague of mine received am email yesterday informing him that they are closing his account as they are no longer offering their services to customers in the UK. Seems to me something is not right with this organization and think you are right to question this company. The aforementioned brokerís actions were a bit defensive to say the least.


Last edited by Trafford; August 13th, 2011 at 04:13 PM. Reason: errors
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  #17 (permalink)
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Trafford View Post
A colleague of mine received am email yesterday informing him that they are closing his account as they are no longer offering their services to customers in the UK. Seems to me something is not right with this organization and think you are right to question this company. The aforementioned brokerís actions were a bit defensive to say the least.

ThinkOrSwim is doing this too, closing UK accounts that is. I doubt you would question TD Ameritrade's solvency, right? I don't know why Velocity or ThinkOrSwim is doing that, but I would guess it is something to do with new regulation in UK and they don't have enough UK business to justify the cost.

Mike

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  #18 (permalink)
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@Big Mike, I appreciate your feedback and welcome your comment ... and I understand how you "feel" that I might be attacking one of your sponsors as well, but that is not the case. I have gone to extremes to make sure that I make clear that I state that I am not attacking anyone, but rather that I seek understanding and in doing so I have exposed my argument and thought process... I think I have been more than clear in that regards.

I know you are with VF since I have seen your alias a few times, but not always. I dont know if that means that you actively use them or not since I dont see you on the LB all that often but I know that means very little... I mean, I am not on the LB since my accounts just sits there on cash.. my expectation of VF is that they will be available if for some reason I cant gain access to my other account (hence the backup nature).. in any event, I am glad that you have developed a relationship with Dale.

I am sure I could do the same and pickup the phone and chat with him, specially since we have chatted in more than one occassion and he has always been quite helpful when I have had some rather strange questions, which is why I figure I ask the question in a public forum so through the process of asking others could be educated as well. I should make it clear, that everyone at the VF shop is of quality... everyone that I have dealt with is always responsive and effective... but I am not asking questions about their character or even their technology, am I now?...

My questions, are rather simple.. and they are not at being fully answered... other than by a statement from Dale stating that the funds are protected and they can bring more funds and that no customers will lose funds.. which BTW, I am not arguing... I am merely asking then the additional question as to why not then increase the reserves like many of the other FCM's out there vs. remaining at their current levels?

the answer to that question could very well be, that VF can generate greater returns from their firm capital than to having to increase their reserves... but I would be speculating as to that answer.. or he could also just say that you know.. it is all part of their busines strategy and that is it.. that does not mean the question that I asked was answered, merely that it was deflected.

Dale has chosen to exit the thread, and I understand it... all I will do now is finish my argument with the data that I have and complete my comparison against other FCM's out there... if someone else has the same question or evaluate an FCM based on similar parameters and metrics, then they can save some time when doing research by looking at some of mine...



Big Mike View Post
sysot1t,

Seems to me your point of the thread was to highlight the net capital requirement and Velocity's low excess amount. You've done that. Velocity seems to feel there is not much use in having excess, for the reasons Dale stated. Perhaps you would be better off contacting Dale privately if there is something else left unresolved.

When I read this thread I feel like you were attacking Velocity. I think it boils down to this: do you feel safe at Velocity? Do you feel Velocity takes better care of your account than others? Do you like the features offered to you by Velocity?

If you answer yes, then be happy with Velocity. If answers are no, then move your account. Selecting a broker is a lot like selecting a platform, one size does not fit all.

You know that I use Velocity and am very pleased with them. In particular, Dale has been an absolute great resource for me and I think he is absolutely the kind of guy to be very honest and direct about most any topic. Why not give him a call.

Mike


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  #19 (permalink)
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Trafford View Post
A colleague of mine received am email yesterday informing him that they are closing his account as they are no longer offering their services to customers in the UK. Seems to me something is not right with this organization and think you are right to question this company. The aforementioned brokerís actions were a bit defensive to say the least.

First Max and Dow are hedge funds....now we're closing UK accounts.

Completely false.

If you have any questions about our services at Velocity Futures please send me a private message.
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  #20 (permalink)
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Trafford View Post
A colleague of mine received am email yesterday informing him that they are closing his account as they are no longer offering their services to customers in the UK. Seems to me something is not right with this organization and think you are right to question this company. The aforementioned broker’s actions were a bit defensive to say the least.

that request, more than likely.. might have to do more with regulations than anything else ... possibly, nothing to do with reserves.. based on the CFTC numbers... anywhere from 10-20% of their segregated funds have to do with no-US based exchanges... but that does not necessarily mean that those are non-US based accounts... anyhow, I would be speculating as to why no more UK accounts if true.. perhaps there is a news release or something out there that might address it..

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