The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost and complexity to FCM compliance.
The futures industry has had a tough couple of years, and with each storm there has been a dire warning that people will abandon it in droves. But the futures industry, particularly in Chicago, has faced many challenges and usually comes out the other end stronger through its ability to innovate.
How about those traders so faithful of the futures industry that they left millions in their MF Global account because they though the guarantee of segregation was safer than the limited FDIC guarantee?