Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: The Corzine Rule.
In Response To: The Corzine Rule. ()

Very important issue
The Commodities business has always been corrupt
To name a few:
Tom Egan at Stotler
Dittmer (and Tone Grant) at Refco
Some rogue brokers at Conticomodity (that forced the Freeborg to cut this "shameful" business
Alaron just before PFG bought them
LTCM
(ENRON, WORLDCOM, BEAR STREARNS, LEHMAN BROTHERS, SALOMON BROS (MILKEN),NICK LEESON and other rogue traders)

now MF GLOBAL AND PFG BREAKING INTO SEGREGATED ACCOUNTS

HOW CAN ANY NORMAL PERSON PUT THEIR MONEY INTO AN ACOOUNT THAT IS ASSUMED TO BE SAFE while the truth is that the BANK and the BROKERAGE can do with the money whatever they want?

This is a KISS of death to the INDUSTRY if they do not fix this BLACK HOLE!!

whatever I read is NOT SATISFACTORY. TOO MANY LOOP HOLES:

CME Group Inc and IntercontinentalExchange both support the rule, according to the Wall Street Journal. A CME spokeswoman told the Journal that “more work needs to be done to ver the idea.”
“This won’t be the only response, but it’s another way we can safeguard customer funds,” said Daniel Roth, the NFA’s CEO and president.
Alternatives to the rule include proposals that would allow customers to store funds at clearinghouses instead of brokerage firms, or creating insurance funds to protect customer accounts. Under the Corzine rule, there is no mechanism to prevent customer-money moves, only the supervisory capacity.
Read more about the “Corzine rule”

Messages In This Thread

The Corzine Rule.
Re: The Corzine Rule.
Re: The Corzine Rule.