After years of dealing with low interest rates, new regulations and rebuilding client confidence, futures commission merchants are ready to break out and start doing what they do best: Executing trades and hopefully making money.
Representatives Barney Frank (D-Mass) and Mike Capuano (D-Mass) introduced a bill Thursday night that would merge the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
It’s possible that for many readers, Futures has spent too much time focusing on what happened with MF Global and PFG and how their deceitful use of customer segregated funds has stained the futures industry.
Still reeling from the debacle of MF Global, the futures industry now is dealing with potential fallout after learning that Russell Wasendorf Sr. may have falsified bank records to hide PFG's failure to maintain customer segregated funds.
Futures commission merchants are still adjusting to the post-credit crisis world, and while many FCMs are reporting increased volume in 2010 they all are suffering in varying degrees from the zero-interest-rate environment