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Search: Posts Made By: djkiwi
Forum: Brokers August 14th, 2014, 03:02 PM
Replies: 859
Views: 265,260
Posted By djkiwi
What a complete waste of resources. Why expend...

What a complete waste of resources. Why expend resources filing a lawsuit against a bankrupt company? The CFTC needs to use it's financial resources to implement effective controls that detects fraud...
Forum: Brokers October 8th, 2012, 08:25 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Insurance and unlikely option

Mike, that would be the ideal scenario but in my opinion highly unlikely there will be any insurance for the following reasons:

Firstly, it is highly unlikely even the riskiest insurer would take...
Forum: Brokers July 20th, 2012, 03:00 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Big Mike. I've updated the opening post of this...

Big Mike. I've updated the opening post of this thread to reflect the IB proprietary info and adjust the conclusions. I also changed the table attachment but cannot add to the first post. I will just...
Forum: Brokers July 19th, 2012, 01:39 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi guys, does anybody actually know the...

Hi guys, does anybody actually know the following:

1. Any figures around suggesting what the customer funds should be.
2. The total cash available to be paid once positions were liquidated.
...
Forum: Brokers July 17th, 2012, 09:26 PM
Replies: 859
Views: 265,260
Posted By djkiwi
ThatManFromTexas It certainly appears that...

ThatManFromTexas

It certainly appears that way. It was certainly a surprise to me. I always knew Interactive Brokers had a fairly active prop business which didn't concern me too much. What I...
Forum: Brokers July 17th, 2012, 04:38 PM
Replies: 859
Views: 265,260
Posted By djkiwi
ThatManFromTexas There are a couple of...

ThatManFromTexas

There are a couple of potential issues with this:

Firstly, confirming bank balances is an improvement but to be accurate you need to reconcile and audit to the Broker's client...
Forum: Brokers July 17th, 2012, 12:16 AM
Replies: 859
Views: 265,260
Posted By djkiwi
Guys, I've been digging a little deeper into the...

Guys, I've been digging a little deeper into the re-hypothecation rules I mentioned in an earlier post and uncovered some important points on IB that I had missed as part of my earlier due diligence....
Forum: Brokers July 15th, 2012, 12:31 PM
Replies: 859
Views: 265,260
Posted By djkiwi
olobay I sincerely hope you guys get 80% +...

olobay

I sincerely hope you guys get 80% + back. It's a fair point you make, the total funds were supposed to be $400m and the segregated funds were $200m so where is the other $200m?

So I'm...
Forum: Brokers July 15th, 2012, 09:49 AM
Replies: 859
Views: 265,260
Posted By djkiwi
brevco, I think it is important to note the MF...

brevco, I think it is important to note the MF Global and PFG situations are entirely different beasts. Bear in mind MFGlobal used client funds to collateralize a massively leveraged $6b sovereign...
Forum: Brokers July 13th, 2012, 02:37 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi I doubt SIPC member firms would be interested...

Hi I doubt SIPC member firms would be interested increasing their levies to support the futures guys. Bear in mind regulation for securities is much tighter than futures so the insurance premiums for...
Forum: Brokers July 12th, 2012, 11:06 PM
Replies: 859
Views: 265,260
Posted By djkiwi
liquidcci That's true. Most of my trades now...

liquidcci

That's true. Most of my trades now are fairly relaxed semi algo 50 -100 tick swing trades using limit orders or stop market orders queued well in advance. Slippage on triggered stops...
Forum: Brokers July 12th, 2012, 05:43 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi guys, I've conducted my own due diligence of...

Hi guys, I've conducted my own due diligence of IB, TD and Tradestation after phone discussions with all 3 firms this morning to decide what I'm going to do with my own accounts. I've written a...
Forum: Brokers July 11th, 2012, 11:07 PM
Replies: 859
Views: 265,260
Posted By djkiwi
ThatManFromTexas raises some good points. As...

ThatManFromTexas raises some good points. As mentioned earlier an email from a customer services rep should be taken with a grain of salt as invariably they are unsure of the intricacy of the...
Forum: Brokers July 11th, 2012, 05:57 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Big Mike. True, nothing is entirely safe and...

Big Mike.

True, nothing is entirely safe and the minimum balance idea is good. If you swing trade the overnights margins can be a little stiff so you can only go so far.

The MF Global situation...
Forum: Brokers July 11th, 2012, 04:15 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi. As mentioned in an earlier post, you have far...

Hi. As mentioned in an earlier post, you have far greater exposure to theft if the broker is owned by one or a few people.

This is because there will likely be few or no compliance staff with the...
Forum: Brokers July 11th, 2012, 12:01 AM
Replies: 859
Views: 265,260
Posted By djkiwi
The question here is why in this electronic age...

The question here is why in this electronic age were there pieces of paper being mailed and signed at all? Surely electronic monitoring mechanisms should have been placed years ago between the bank...
Forum: Brokers July 10th, 2012, 07:36 PM
Replies: 859
Views: 265,260
Posted By djkiwi
heywally, yes you right on futures for TD. I was...

heywally, yes you right on futures for TD. I was talking equities as I only will be trading equities through TD via ninja. How are you finding the reliability of the datafeed on TOS? I used TOS...
Forum: Brokers July 10th, 2012, 06:00 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi ThatManFromTexas For live trades through...

Hi ThatManFromTexas

For live trades through Ninja I've only used IB and AMP although not expecting any issues with TD as I am able to logon to my TD account through Ninja. If there are any issues...
Forum: Brokers July 10th, 2012, 05:16 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi liquidcci Actually if you use a...

Hi liquidcci

Actually if you use a ninjatrader multibroker license you can log on to the datafeed first (say CQG, Kinect or Zenfire) then next logon to IB then thirdly TD. This gets around the...
Forum: Brokers July 10th, 2012, 11:16 AM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi, good idea. I would take this answer at face...

Hi, good idea. I would take this answer at face value though. In any case the ultimate decision to honor a claim is nothing to do with tradestation but the insurer who will have to prioritize...
Forum: Brokers July 10th, 2012, 10:37 AM
Replies: 859
Views: 265,260
Posted By djkiwi
Hi, this is not true. It only covers stocks. I...

Hi, this is not true. It only covers stocks. I looked into this awhile ago as well when looking at tradestation as a potential broker. Never take reps assurances on the phone, always get it in...
Forum: Brokers July 10th, 2012, 09:26 AM
Replies: 859
Views: 265,260
Posted By djkiwi
Guys, this just confirms my suspicion of the...

Guys, this just confirms my suspicion of the futures industry being the wild wild west.

Bear in mind MF Global collapsed on the 31st October 2011. The question is what have the regulators been...
Forum: Brokers July 9th, 2012, 08:31 PM
Replies: 859
Views: 265,260
Posted By djkiwi
Guys, this is a classic example of why you should...

Guys, this is a classic example of why you should understand the ownership structure and insurance protections of the firm you place your funds. Personally I have very little trust in any futures...
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