Robert Morse
Sponsor
Not true of course.
Dorman Trading financial statement 2016
- Thread starter Pluralsight
- Start date
Not true of course.
I figured. I didn't mean "all IB" accounts... just all of the accounts at my particular IB. But when I asked them if I could keep my account at Wedbush, they said no.
Have you signed up with DAW? Is that how ur trading with them?
They can't clear trades with Eurex and other places (Dorman). So they will be using their bank. Where you deposited your money I'm assuming. Could be elsewhere tho.
What I don't understand is if Dorman goes down in a blazing glory, does the depositing bank have to cough up the cash / cover the money that dorman can't.
I've always wondered what happens there.
They can't clear trades with Eurex and other places (Dorman). So they will be using their bank. Where you deposited your money I'm assuming. Could be elsewhere tho.
What I don't understand is if Dorman goes down in a blazing glory, does the depositing bank have to cough up the cash / cover the money that dorman can't.
I've always wondered what happens there.
Robert Morse
Sponsor
Have you signed up with DAW? Is that how ur trading with them?
They can't clear trades with Eurex and other places (Dorman). So they will be using their bank. Where you deposited your money I'm assuming. Could be elsewhere tho.
What I don't understand is if Dorman goes down in a blazing glory, does the depositing bank have to cough up the cash / cover the money that dorman can't.
I've always wondered what happens there.
Your money is kept in a segregated account apart from your FCM. http://www.cftc.gov/IndustryOversight/Intermediaries/FCMs/fcmsegregationfunds
Have you signed up with DAW? Is that how ur trading with them?
They can't clear trades with Eurex and other places (Dorman). So they will be using their bank. Where you deposited your money I'm assuming. Could be elsewhere tho.
What I don't understand is if Dorman goes down in a blazing glory, does the depositing bank have to cough up the cash / cover the money that dorman can't.
I've always wondered what happens there.
DAW? I don't know what that is, I'm trading directly with them. I also don't trade EUREX, just CME. I do think there is an option for including EUREX though. Their bank is BMO Harris I think. I believe customer's cash should be as safe as in any other FCM I assume. Do you trade with them?
I was with them, DAW is their brokerage retail arm of Dorman.
http://www.dawtradingdiv.com/aboutdaw.html
I was with them a while ago, they used to be part of Dorman. It was their retail arm. Looks like they changed to Phillip.
We all saw what happened to MFGlobal segregated accounts
Corzine just took money out of them (to cover the firms bad bets) and then the firm went bankrupt.
So much for the segregated part..
IMO totally xxxkxk but then he has friends to make sure he was ok
When I hold my position overnight I pay for the overnight margin myself. So what is this 8% customer margin you talk about? Is this something extra the broker has to pay/block ??
I doubt it.