asterisk2a + broker   57

Have $2,000 In Cash In Your Fidelity Account? Then You Too Can Qualify To Lose Money On The Manchester United IPO | ZeroHedge
Don't buy what your broker want you to buy.
When a broker comes to mom and dad - here is that IPO offering you can get into - then there is too much supply because there is not much demand from institutional side of the market. Which is the biggest red sign that this stinks.
IPO  Stockmarket  WallStreet  broker 
july 2012 by asterisk2a
Is 'Inept' CFTC "The Get-Away Driver" For PFG? | ZeroHedge
"I expect to lose money because of the complete incompetence of the Federal regulators" is how Factor LLC's Peter Brandt describes the farce that has rapidly become bankrutpcy for PFG Best to Bloomberg TV today. As we noted earlier, the recent and clearly total ineptitude of the CFTC in identifying (and acting upon) falsehoods is incredible - and twice within one year on a massive scale. In a little over two minutes, Brandt questions the entire CFTC regulatory structure of FCMs and summarizes his views when he reflects on the MFGlobal situation with "the CFTC as the get-away driver of the robbery". What they do in the case of PFG is unclear but we (like Brandt) "have no trust and no faith that the CFTC is capable of handling this mess".

+ http://www.futuresmag.com/2012/07/09/pfgbest-missing-220-million-customer-segregated-fu
confidence  regulators  trustagent  trust  broker  NFA  MFGlobal  PFGBest  CFTC  Segregated  Funds  larceny 
july 2012 by asterisk2a
PFG's Chairman Was Forging Bank Documents For Years Even As The CFTC Gave An "All Clear" | ZeroHedge
#Accounting@WallStreet

If there is an event that should cost Gary Gensler his job as head regulator at the CFTC, it is this. According to a just released Reuters report, the head of MFG(lobal) part 2, PFG, whose story we broke yesterday, Russell Wasendorf Sr. "intercepted and forged bank documents for more than two years to cover up hundreds of millions of dollars in missing money, a person close to the situation." [...]

the CFTC gave the firm a clean bill of health in its January inspection of Peregrine Financial Group. That's 6 months ago. The CFTC, as a reminder, was it regulator. The entity whose sole charge is to make sure that firms at least have real, not rehypothecated, cash in their segregated client bank accounts. PFG never did for the past two years. And somehow the CFTC missed this. MF Global was a warning shot, and the CFTC missed it entirely. And not only that but 2 months later ir pronounced PFG clean. For this Gensler has to be fired immediately, and with prejudice.
WallStreet  accounting  accountability  Oversight  brokerage  broker  MFGlobal  regulation  regulators  CFTC  PFGBest 
july 2012 by asterisk2a
Tradition plans forex exchange ahead of new rules | Reuters
brokers and inter dealer brokers are forced to put their desks (OTC) onto digital platforms,

ECN / no dealing desk

"Policy-makers are keen to shake-up the vast over-the-counter markets in currencies, bonds and derivatives where these brokers operate by forcing them on to electronic platforms as early as this year.

[...] Regulators are keen to force more of these murky OTC markets to use electronic, exchange-based systems to make them more transparent and easier to regulate.

The banks' support of Tradition's new project is partly a response to growing frustration among banks with the levels of HFT activity in the existing platforms.

Tradition's traFXpure is designed to tackle this."
HFT  ECN  broker  forex  OTC 
june 2012 by asterisk2a
MF Didn’t Segregate Client Collateral: CME - Bloomberg
MF Global Holdings Ltd. (MF), under investigation by U.S. regulators after filing for bankruptcy protection, violated requirements that it keep clients’ collateral separate from its own accounts, the head of the world’s largest futures exchange said.
Craig Donohue, CME Group’s chief executive officer, said on a conference call with analysts today that MF Global isn’t in compliance with the rules of the exchange and the Commodity Futures Trading Commission.

- WHERE WAS AUDITOR???
broker  regulation  oversight  MFGlobal  failure 
november 2011 by asterisk2a
Morgan Stanley at Brink Got $107B From Fed - Bloomberg
http://www.bloomberg.com/data-visualization/federal-reserve-emergency-lending

Hedge Funds pulled money out ... out of banks who facilitate their trades.
Prime brokers facilitate short trades, the sale of borrowed stock in the hope of buying it back later at a lower price. They also make margin loans to finance stock purchases. In exchange, hedge funds usually keep their cash and stock in accounts at the prime-brokerage companies.

“So if clients pulled their money out, the view was that money had not been lent out, so the cash would have been sitting there able to hand over. It turns out that that was not entirely correct.”

In reality, “prime brokers were able to reuse clients’ assets to raise cash for their own activities,” the financial crisis commission wrote in its final report, published in January. Azarchs said that in her years covering Morgan Stanley for S&P she never heard executives discuss the risk that the funding might evaporate.
Fed  meltdown  fiancial  crisis  discountwindow  2008  jpmorgan  morganstanley  interbank  liquidity  freeze  emergency-lending  operation  benbernanke  henrypaulson  hedgefunds  panic  FinancialCrisisInquiryCommission  banking  lehmanbrothers  history  goldmansachs  broker  service  lesson  financialcrisis  PrimaryDealerCreditFacility  lenderoflastresort  PDCF  JimChanos  JohnMack  TermSecuritiesLendingFacility  TSLF  TARP  POMO  counterpartyrisk  toobigtofail 
august 2011 by asterisk2a
Cantor FX - Margin FX Trading
Cantor FX offers a complete foreign exchange solution aimed at banks, financial institutions, corporates, fund managers, money managers and private investors.
We provide direct access to the market via a web based trading platform and additionally we offer voice execution by telephone.

Products available to trade include spot FX, forward FX, non deliverable forwards (NDFs), exchange for physicals (EFPs) and precious metals, at competitive spreads and margin rates.
Whatever your specific trading requirements we look forward to welcoming you to our growing client base.
forex  broker 
august 2011 by asterisk2a
IFR Markets - Financial - Thomson Reuters
esignal / Bloomberg Terminal / or IFR Markets

IFR Markets is the world’s most authoritative source of real-time financial markets commentary and analysis, relied on by industry professionals around the globe – 24 hours a day.

Incisive Analysis – IFR Markets goes beyond commentary to provide a forward-looking perspective and a deeper understanding of market movement.More Than Just a Screen Service –a series of intra-day emails provide a summary of the day’s market activity.A Truly Global Resource – closely affiliated with IFR magazine , IFR Markets draws on the expertise and experience of over 70 dedicated analysts, operating out of bureaux throughout the financial world and reporting in all time-zones.A Dedication to Continual Improvement – quarterly enhancements and releases demonstrate our ongoing commitment to improving the IFR Markets serviceAvailable either online or via proprietary vendors.
forex  broker  newswire  service  ThomsonReuters  esignal  bloomberg 
august 2011 by asterisk2a
Fidelity UK
personal pension plan, you are in control.
broker  SIPP  ISA  equities 
august 2011 by asterisk2a
Charles Schwab, U.K., Limited
Schwab offers US$ brokerage accounts for trading on U.S. markets to U.K. and Swiss residents.
broker  equities 
august 2011 by asterisk2a
Overall Ranking - Forex Broker Review 2011
1. MB Trading 2. thinkorswim* 3t. GFT 3t. Alpari 5. FXCM 6. Dukascopy 7. PFG Best 8. CitiFX Pro 9. FxPro 10. Ava FX 11. Gain Capital 12. Interbank FX 13. FXDD
forex  broker  review 
august 2011 by asterisk2a
Dukascopy Online Forex Trading Platform Review. Trade Currencies Online. | Online Forex King- Currency Trading Fundamentals.
SummaryDukascopy is a highly professional forex trading platform who are regulated and controlled through the ARIF and the FFA (Federal Finance Administration).So for safe trading & for experienced players, they are hard to beat, with full access to the Swiss Foreign Exchange Marketplace. You´ll need to fax or send the appropriate ID documents to trade here, but in terms of tools and platforms (for the iPhone, iPod, Android, desktop software, etc) they have no equal.And if you are looking for ultra-tight spreads, Dukascopy uses real-time interbank rates with spreads like 0.5 – 1 pip on the major currency pairs such as EUR/USD, (some of the tightest spreads available).For more experienced, higher volume traders, Dukascopy is "best of breed".In 2010  Dukascopy was authorized by the Swiss Financial Market Supervisory Authority FINMA to conduct banking activities (Dukascopy Bank SA): so it´s now a Swiss bank- a safe place for your money.
forex  broker  Dukascopy 
august 2011 by asterisk2a
Forex and Sports - match made in heaven or vanity marketing? | Forex Magnates
Forex broker/dealers have recently been sponsoring major sport teams to have their logo displayed in front of millions of fans. Their primary goal is to promote their brand as well as legitimize the industry as a whole. FXPro sponsors Fulham and Aston Villa, well-established English soccer teams, as well as AS Monace, one of France’s leading clubs. MIG is a sponsor of the Mercedes F1 team with Michael Schumacher as one of their drivers, FXDD sponsors the Red Bull F1 team, Alpari sponsors the New York Knicks basketball team and New York Ranger hockey team, Saxo Bank sponsors cycling tournaments, FXOpen sponsors Drift challenges and the list goes on.
forex  broker 
july 2011 by asterisk2a
FXall - The leading independent electronic trading platform for institutions
FXall now combines the most sophisticated capabilities of a leading active trading platform with the January 2010 purchase of Lava Trading Inc,

*is a Citi Group operation???

The consolidation will pit FXall against Currenex, which is the largest ECN for active traders and Hotspot, owned by Knight Capital Group, according to Aite Group's Lee.
forex  broker  ECN 
july 2011 by asterisk2a
Digital Vega
Digital Vega, a London based company, which provides electronic FX technology solutions to buy- and sell-side firms. Digital Vega has developed a unique software solution, which broadcasts request for quotes (RFQ) from buy-side asset managers, corporates, hedge funds and regional banks for FX option transactions to sell-side liquidity providers. The service is supported by seven of the largest FX banks, with a further five banks looking to provide pricing services in the near future.

new dedicated FX Option trading platform from Digital Vega. It connects buy-side clients of FX options to liquidity providers for fast pricing and secure, seamless trading.

- saxo bank is other big options provider et al
forex  option  software  solution  broker 
july 2011 by asterisk2a
Aite Group Report FX Brokerage: The Dawn of Institutionalization
Brokers profiled in this report include Dukascopy Bank, FX Solutions, FXCM, FXDD, Gain Capital (Forex.com), GFT, Interbank FX, MIG BANK, OANDA Corporation, and Saxo Bank.

The Ranks Of Firms Offering Retail FX Are Set To Grow As More U.S. Securities Firms And Banks Tap The White-Label Services Of Established FX Brokers.
Boston, June 28, 2011 – A new report from Aite Group examines the latest trends in retail foreign exchange (FX or Forex) brokerage, with particular emphasis on the white-label market. Written as a business-strategy update for brokers and a partner-selection guide for new entrants, this report identifies the market’s new direction and discusses what it takes to compete. in the broker business.
forex  broker 
june 2011 by asterisk2a
Another Exchange Halts Levered OTC Gold And Silver Trading | zero hedge
Last week it was Forex.com, now it is Oanda. As a reminder "... on Friday told clients it will discontinue its gold and silver over-the-counter products marketed to retail investors who are U.S. residents. It asked investors to close their positions by July 15." This was first reported on Zero Hedge. "Trading gold and silver over the counter -- bypassing a futures exchange -- offered investors a chance to enter a highly speculative, leveraged market that also left many investors at risk of fraud, according to one trade group. “In order to trade, it needs to be done in a exchange, or it can’t be done at all,” said Dan Driscoll, a vice president with the National Futures Association. The industry group asked Congress for such changes, due to numerous cases of fraud in such contracts. Doing business with a futures exchange offers retail investors more protections and transparency, he said." There you go: it's the extensive fraud that did it.
CME  Forex  broker  CFTC  Dodd-Frank  fraud  leverage  trading  OTC  2011  regulation  reform  oversight  Oanda 
june 2011 by asterisk2a
MB Trading attains FSA registration, all US forex brokers now also registered elsewhere | Forex Magnates
Just as OANDA did not so long ago, MB Trading too attained FSA authorization and is preparing to launch within few months. In fact, MB attained authorization back in April 2011 while OANDA in May.MB Trading European operations will be conducted under the name MBT Financial UK LTD, using the www.tradembt.eu website, and spearheaded by one Ila Jehl – formerly CEO and President of TradeOptimizer Group Inc and Director at NASDAQ OMX Futures Exchange (NFX).
Unlike OANDA, which received permissions to deal with just about every asset possible, MB’s permissions are limited to offering retail forex only.Evyerthing I said about OANDA’s FSA situation obviously applies to MB’s case as well:

offer non-US clients more flexible conditions, such as higher leverage. Secondly it’s a safe house in case forex regulation in the US gets even more strict ...

FXCM, Gain (Forex.com), Alpari, OANDA, MB, GFT, FXDD, AMIFX, ...
Saxo Bank, CitiFX, BarclaysX, Schwab, tdwaterhouse,
forex  broker  Dodd-Frank  UK  USA  FSA 
june 2011 by asterisk2a
Analyzing public forex brokers what analysts need to know | Forex Magnates
A broker like FXCM advertises that they are a Non Dealing Desk broker (passing your trade to interbank counter parties) while another, GFT openly advertise that they are not a bank but a dealer. Each business model comes with an array of issues that a trader must understand. Even the rollover rates (used by carry traders to earn interest on their positions) vary from broker to broker. Add to this the multitude of advanced charting platforms available to a trader and sooner or later a trader’s equity is split amongst multiple brokers. Not long ago a survey done by an independent research firm in the UK found that the average British trader has 3 – 4 brokers.
forex  broker  FXCM  GFT 
june 2011 by asterisk2a
IBTimes announces winners of its 2011 Trading Awards | Forex Magnates
Alpari UK, Ava FX, FXDD, FX Open, GFT, GO Markets, HY Markets, IBFX, MB Trading, Oanda, Tadawul FX, TFIfx and VantageFX.
forex  broker 
june 2011 by asterisk2a
Wall St. Often Slow to Disclose Brokers' Sins - NYTimes.com
Financial Industry Regulatory Authority, Wall Street’s self-policing organization,

Morgan Stanley separately was hit with a $2.2 million penalty for failing to appropriately report 1,800 incidents of customer complaints and other wrongdoing. It was the largest fine ever levied against a firm for disclosure issues.
Since then, the tally of Finra’s disciplinary cases has ebbed and flowed. In 2010, the regulator suspended 56 brokers for failing to report previous infractions, up from 34 in 2006. Annual fines rose to $2 million from $1.6 million over the same period.
In one of the most prominent cases last year, Finra fined Goldman Sachs $650,000 for failing to disclose that a trader, Fabrice P. Tourre, and another employee had received a Wells notice from the Securities and Exchange Commission, a warning that the agency was considering an enforcement action against them.
banking  broker  transparency  advice  Finra  finance  USA  morganstanley  goldmansachs  citigroup 
february 2011 by asterisk2a

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