Search results

I have found that in some cases the IB preview feature states margin incorrectly, but after you actually execute, it gets it right. For me, this occurs especially when you have pending limit orders. It seems to sometimes take these into account which gives strange results. A lot of other...

I think there is a lot of merit in this argument. I have been really puzzled that it was not raised earlier. The Trustee should have promptly sued JP Morgan and any other banks that received funds from MF Global client accounts as well as various MF Global employees for the immediate...

Edit copy the lines from the page that works onto the page that does not. You can use control-C and Edit / insert. Or delete the ones that do not work and reenter them.

IB Canada is there. However probably none of them will open accounts for U.S. residents because they are not registered with the CFTC / NFA and therefore it is improper under CFTC regulations for them to solicit Americans. (This is basically the same issue as foreign forex brokers no longer...

It is SIPC not SPIC.

Canada includes futures accounts in its version of the SIPC and covers up to one million dollars per account. This even applies to customers of the Canadian operations of MF Global Canada and IB Canada! http://www.cipf.ca/HomePage.aspx The U.S. should do no less.

There are some valid concerns in this area but anything about China put out by the IMF is partly propaganda/ pressure tactics / coercion on the part of the U.S. (the largest shareholder in the IMF).

I think that in the real world outside the U.S., people usually trade a substitute called CFD's to avoid all of the taxes etc. that are levied on actual shares. CFD's are widely available for Hong Kong stocks and have much lower transaction costs and higher leverage. Oh, all of the above...

Speaking of Canada, their equivalent of SIPC, which is called CIPF, covers accounts up to one million dollars and does explicitly include futures as well as stocks! http://www.cipf.ca/HomePage.aspx

There is a report "MF Global clients cry foul over JPMorgan tactics in bankruptcy recovery" http://www.nypost.com/p/news/business/dimon_dominator_XgEnS4bOQHprlWey7KxqxI that notes (quoting only in part to respect copyright): =================== Smaller customers of MF Global...

Agreed that it is way too opaque. Someone needs to be immediately doing things like - forcing out into the open what is the nature of the funds in the JP Morgan account and who is making claims against them - setting out what alternative explanations have been offered to date as to...

"Statement From the Office of the Trustee for the Liquidation of MF Global Inc. Oct 31, 2011-New York, New York--James W. Giddens, partner at Hughes Hubbard and Reed LLP, was appointed this evening by U.S. District Court Judge Paul Engelmayer of the Southern District of New York to be the...

The bankruptcy trustee's job is to maximize recovery to the creditors and distribute equally among them. As such, he is quite likely to be somewhat hostile to claims by any particular group (in this case the brokerage clients) that they want all of their money back ahead of everybody else...

Yeah I agree with you but I mentioned the argument since someone made it elsewhere. I believe that MF Global was an SIPC member. Parts of the business are not always separate legal entities as far as I know. But accounts are designated as either futures or stocks and these t-bills are...

Just to add a further note on the T-Bill topic, it appears that some lawyers in the MF Global case are arguing that T-Bills are not cash but rather are specific property of the client that should be returned to him without reduction under general principles of bankruptcy law. Also, they are...

Unfortunately, on checking into this further, Treasury Bills may also be subject to pro-rata reduction if overall funds are insufficient. So they are not necessarily unassailable after all.

Over one million at IB, and it used to be for any size account at MF Global and many other brokers, you can post security with Treasury Bills instead of cash. These should be unassailable. One very easy thing for IB to do would be to lower the minimum account size for which T-Bills can be...

Is a proprietary trading firm a "qualified investor" and so able to give access to foreign stocks, cfd's, and fx options? I do not require the capital of the prop. firm, or any role for it in monitoring my trading, but just want to trade my own capital under the umbrella of a prop. firm (or...

You may have been looking during off-peak hours. I trade all of these all the time - coffee - sugar, etc. included. You do not need to have tight bid ask quotes for longer term trades. Just put in a reasonable limit order and it will usually be filled, at least during the peak daily...

Chinese slowdown boosts Hendry's fund From the FT: A hedge fund designed to profit from a slowdown in the Chinese economy, run by the London hedge fund manager Hugh Hendry, has soared in value over the past two months as global markets have plummeted and industry peers have suffered...