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That's what this story says: http://aitegroupblog.com/capital-markets/dodd-frank-fx-deadline-costly-to-sec-firms/ or at least they will have to outsource it....

Here is a reply I received from IB just a few days ago: Here also for reference is their earlier reply on their new illiquidity surcharge:

I agree but I believe that if one reads the article carefully, he is talking about running afoul of the CFTC, not of the IRS in this case. I think that he may be being over-cautious though (or the CFTC over-reaching). It might be ideal if the foreign corporation could have some activities...

Under all tax treaties a corporation is considered a resident where it is incorporated. However according to http://www.greencompany.com/blog/index.php?sectionid=22

Actually it is not illegal for Americans to use an offshore broker. Dodd Frank purports to regulate foreign brokers offering their services to U.S. clients. However, the foreign brokers can argue that U.S. regulators have no jurisdiction over them, or just ignore the U.S. regulators if...

Actually it is not illegal for you to use an offshore broker. Dodd Frank restricts foreign brokers (not investors or traders) offering their services to U.S. clients. However, the foreign brokers can argue that U.S. regulators have no jurisdiction over them, or just ignore the U.S...

Dodd/Frank restricts over-the-counter commodities trading (but not exchange traded futures of course).

Investors Europe rates may be negotiable down to reasonable levels. Note: I suggest that you read this post without clicking on the links for reasons apparent further down. For an example of discount rates for futures, there is...

It also makes it extremely precarious to try to roll over spreads. If you lift one leg momentarily you may not be able to get it back on (even though adding it back should reduce margin) because initial margin, including their enormous surcharge, must be met again. I lost quite a bit of...

I am having trouble interpreting quoted rollover rates. Is there a convention that a plus sign means a debit? For example, from http://www.citifxpro.com/rollovers Forex Cross Long Positions Short Positions AUDCAD -0.000427 -0.000611 Do these mean that I...

Isn't that just a one-year spread?

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Of the API's that are available through a wide variety of brokers, it looks to me as if Cunningham T4 API and Rithmic R|API are the main two API's that are very low cost to use for low-volume automated trading. It seems that Trading Technologies and CQG are too expensive for me to use in this...

They are not risky and they are not low liquidity. The far out months are far *less* volatile than the near months in crude.

I meant into a much deeper contango in that scenario...

Not necessarily. I would not leave any leg too close to expiration as it can behave erratically. Actually I have multiple contracts and legs and I move them around in different months. At this point, the spread has already come in quite a way and I have wound down a good portion of my...

Probably true. I have used it free domestically at least (one per month). Nobody else offers that.

It is very interesting isn't it! WTI seems to almost pivot at times as you note - when front months fall a lot in a day, contracts out a few months fall very little, in fact less than they should relative to how much Brent falls that day. I assume that this means that some market...

The following has resulted in a huge initial margin amount at IB for me when trading contracts in deferred months out a year or two. On spreads, it appears that they charge it on both sides of the spread without increasing the credits for the spread. It does not affect maintenance margin...

You can trade it at Interactive Brokers, although they are not the best for it I am sure because they lack implied spreads and for other reasons (high margins in deferred months - see another post I am making). If you do not already have an account at IB, I would look elsewhere such as one of...