anyone know the real story here rather than the schneider buzzword propaganga bullshit memo released below http://www.schneidertrading.com/trading/marex-spectron-to-acquire-sta-pro-trader-division
No inside scoop but i think it's just industry consolidation. Only the bigger props would survive. besides the manual scalping that they used to rely on is basically dead in the face of HFT. Having to rely only on commissions and not prop trading must be taking a toll on the smaller shops. I guess that's why the are merging balance sheets. Quite possibly that MFGlobal mess has left clients wanting to deal with only the most largest and well reputed shops. damn you Corzine.
I thought that Schneider had a clearing relationship with MFGlobal. Perhaps this is a delayed reaction? If that's the case then maybe Sonny has either lost too much capital or just simply lost the desire to risk his capital.