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Search: Posts Made By: traderwerks
Forum: Brokers July 17th, 2012, 01:43 AM
Replies: 859
Views: 265,717
Posted By traderwerks
Great post. Thanks. Just one small thing. A...

Great post. Thanks.

Just one small thing. A mortgage is not an example of hypothecation. I won't go into why, because it is boring and no one would care, but I would not use that example in a...
Forum: Brokers July 16th, 2012, 10:24 PM
Replies: 859
Views: 265,717
Posted By traderwerks
I understand how you feel, but PFG was not...

I understand how you feel, but PFG was not directly monitored by the government regulators.

The NFA which regulated PFG IS the private sector, and they can pay whatever they want.

However the...
Forum: Brokers July 13th, 2012, 08:33 PM
Replies: 859
Views: 265,717
Posted By traderwerks
Leo Melamed is on the NFA board. You cannot find...

Leo Melamed is on the NFA board. You cannot find someone who knows the industry better than him.

More money won't do it and more hiring won't do it. Reputation and accountability will.

Just...
Forum: Brokers July 13th, 2012, 05:59 AM
Replies: 859
Views: 265,717
Posted By traderwerks
Not only hedge funds, but hedgers. The hedgers...

Not only hedge funds, but hedgers. The hedgers that use the markets to manage their risk. We often forget about them, but they are the reason that speculators are needed to provide liquidity.
...
Forum: Brokers July 13th, 2012, 02:34 AM
Replies: 859
Views: 265,717
Posted By traderwerks
I am not up on the latest regs, but forex is un...

I am not up on the latest regs, but forex is un regulated for the most part. They do not have central clearing so the broker just needs to keep enough to satisfy the CFTC (RFED )and the banks that...
Forum: Brokers July 12th, 2012, 05:59 AM
Replies: 859
Views: 265,717
Posted By traderwerks
Yes it does. I guess I am just too cynical...

Yes it does.

I guess I am just too cynical when it comes to brokers.

I hope the email to the CFO can clear this up.
Forum: Brokers July 12th, 2012, 05:10 AM
Replies: 859
Views: 265,717
Posted By traderwerks
I read the safety of funds page, and I don't see...

I read the safety of funds page, and I don't see the same thing you see.

It says "Securities accounts" and "equities accounts".

It seems pretty clear to me that they are not talking about...
Forum: Brokers July 11th, 2012, 03:33 AM
Replies: 859
Views: 265,717
Posted By traderwerks
True, more regulation will probably not happen. ...

True, more regulation will probably not happen.

I wish they could have 'excess margin' covered by SIPC, or swept into a FDIC insured account, but that won't happen either. Part of the vig they...
Forum: Brokers July 10th, 2012, 06:35 PM
Replies: 859
Views: 265,717
Posted By traderwerks
Exclusive: Iowa futures broker forged bank...

Exclusive: Iowa futures broker forged bank records for years-source...
Forum: Brokers July 10th, 2012, 12:36 AM
Replies: 859
Views: 265,717
Posted By traderwerks
Maint margin for open positions is not held at...

Maint margin for open positions is not held at the brokerage. If you have open positions, then the money is not in "excess margin". If you close positions, the money is moved back to the FCM. So...
Forum: Brokers July 9th, 2012, 10:10 PM
Replies: 859
Views: 265,717
Posted By traderwerks
I feel sorry for the PFG and MFGlobal customers. ...

I feel sorry for the PFG and MFGlobal customers.

"Customer segregated funds" means something, just it doesn't mean anything when faced with someone that will commit fraud. These guys sent...
Forum: Brokers July 9th, 2012, 08:39 PM
Replies: 859
Views: 265,717
Posted By traderwerks
MFGlobal was publicly listed. Just sayin

MFGlobal was publicly listed.

Just sayin
Forum: Brokers July 9th, 2012, 06:35 PM
Replies: 859
Views: 265,717
Posted By traderwerks
They say broker, but PFGBest also is a...

They say broker, but PFGBest also is a non-clearing FCM.

I guess they can't reporter couldn't Google "Peregrine Financial Group"
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